MUMBAI: Reliance Industries Ltd (RIL) on Friday agreed to sell the first of its shale gas ventures—upstream Marcellus shale gas assets in northeastern and central Pennsylvania in the US—for $126 million.
The assets held by Reliance Marcellus II LLC, a unit of Reliance Holding USA Inc. and Reliance Industries Ltd (RIL), were sold to BKV Chelsea LLC, an affiliate of Kalnin Ventures LLC. It is currently operated by Carrizo Oil & Gas, Inc. In 2010, RIL had bought a 60% stake in the assets for $392 million.
Credit: livemint.com
Leave a comment