Sector News

Shell selling two assets in U.S. Permian basin: CFO

November 1, 2016
News

Royal Dutch Shell is selling two small land packages in the U.S. Permian Basin but will also consider acquisitions in the oil-rich West Texas province, Chief Financial Officer Simon Henry said on Tuesday.

Shell, which is in the midst of a $30 billion disposal program to pay for its $54 billion acquisition of BG Group, will remain a key future engine of growth, Henry said on an analysts call.

“The Permian is the crown jewel. Not just in terms of value and quality of the asset but also the capability that is being developed there,” he said.

The Anglo-Dutch oil and gas company has 12 billion barrels in U.S. and Argentina shale resources, he said.

By Ron Bousso

Source: Reuters

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