Shell's $541 million sale of Appalachian shale gas assets

Royal dutch shell, through its subsidiary SWEPI LP(" shell "), has reached an agreement with national fuel gas (NFG), a us-listed energy company, and its subsidiaries, seneca resources, national fuel gas midstream and NFG midstream cavinton to sell its shale gas assets in appalachia for $541 million, the hague reported on may 4,2020. The effective date of this transaction is January 1,2020.

Consideration will be paid in cash, but NFG have the option to offer up to $150 million of NFG common stock as consideration. The deal is part of Shell's plan to divest non-core assets, in line with Shell's shale strategy, which focuses on developing more profitable, lightweight, compact oil assets.

Shell upstream director valer? "The sale of our position in the Appalachian region is in keeping with our desire to focus on shale gas ," Savan said. "While we maximize cash in the current environment, our competitive position in shale gas continues. This is the core of our upstream business portfolio, and it's also the core of our deepwater and conventional oil and gas business ."

The deal, which is expected to be completed by the end of July, is pending regulatory approval.

Casing Cleaning Tools MULTIBACk (MBACK) Heavy-Duty RAzOR BACk (HDRB) RAzOR BACk (RB)

Daily Recommendation: Wellbore CleanOut Tools---Casing Brush 

Halliburton Baker Hughes Odfjell Drill 

Contact person: Linda;  linda@kwoil.cn  Tel: +86 133 7918 7081 

SWITCHBACk (SWB) WELL COMMANDER