Reliance Industries exits US shale gasoline enterprise

Reliance Industries Ltd (RIL) has fully exited from the upstream oil and shale gasoline enterprise within the US.
Reliance Eagleford Upstream Holding, LP, a completely owned step-down subsidiary of RIL, has signed an settlement with Ensign Operating III, LLC, a Delaware restricted legal responsibility firm to divest its curiosity in sure upstream belongings within the Eagleford shale play of Texas. “With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America,” it mentioned.
Reliance mentioned a purchase order and sale settlement has been signed between the RIL arm and Ensign on November 5. “The sale is at a consideration higher than current carrying value of the assets,” RIL mentioned. It didn’t disclose the worth at which this transaction occurred.