Business

Reliance exits shale gas in N. America

Reliance Eagleford Upstream Holding LP, a wholly owned step-down arm of Reliance Industries Ltd., has signed agreements with Ensign Operating III LLC to divest its interest in certain upstream assets in the Eagleford shale play of Texas, USA.

With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America.

“A purchase and sale Agreement has been signed between REUHLP and Ensign. The sale is at a consideration higher than current carrying value of the assets,” Reliance Industries said in a statement.


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Printable version | Jan 17, 2022 7:45:51 AM | https://www.thehindu.com/business/reliance-exits-shale-gas-in-n-america/article37387195.ece

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