Companies

Reliance Industries exits shale business in North America

Our Bureau | | Updated on: Nov 08, 2021

A purchase and sale agreement was signed between Reliance Eagleford Upstream Holding and Ensign

Reliance Eagleford Upstream Holding, LP, a wholly-owned step-down subsidiary of Reliance Industries Limited (RIL), has exited the shale gas business in North America by selling its interest in certain upstream assets in the Eagleford shale play of Texas to Ensign Operating III, LLC, a Delaware limited liability company.

A purchase and Sale Agreement (PSA) was signed between Reliance Eagleford Upstream Holding and Ensign on November 5 for the sale. Reliance said in a statement that the sale is at a consideration higher than current carrying value of the assets.

Published on November 08, 2021
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