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Shell May Be Rediscovering Its Swagger in Texas Shale Oil Country

By Kelly Gilblom: 18 June 2018, 05:00 BST

Shale oil hasn’t always been Royal Dutch Shell Plc’s best friend, but they’re working on the relationship. Shell is said to have bid, with partner Blackstone Group LP, on a portfolio of U.S. shale assets BHP Billiton Ltd. wants to sell for about $10 billion. If it wins, the Anglo-Dutch oil major could exceed its goal of doubling its American onshore output, according to JPMorgan Chase & Co. That would boost the unit’s free cash flow — currently on track to grow by $2 billion by 2025 — and turn around a shale portfolio that is currently “mid-lower ranked,” analysts from the bank including Christyan Malek said in a report. FULL ARTICLE

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