SHELL’S USA FIRE SALE
The New York Times reports that the Blackstone Group, a private equity company, is paying Royal Dutch Shell $1.2 billion for a stake comprising more than 107,000 net acres in Louisiana. MORE
A related article by BusinessReport.com features a quote from Marvin Odum, president of Royal Dutch Shell’s U.S. division, Shell Oil Company. Marvin said in a statement: “We are adding highly attractive exploration acreage, where we have impressive well results in the Utica, and divesting our more mature, Pinedale and Haynesville dry gas positions.” MORE