By Upstream staff
Nexus Energy has finalised the sale of gas reserves from the Crux field, in the Timor Sea, to Shell for $40 million.
Nexus and Shell agreed the deal in early June and Nexus has now received the cash payment.
Shell has picked up the gas field at Crux while Nexus retains the rights to the condensate, proposed liquids project and any future discoveries.
The funds from the sale will go towards developing the liquids project and exploration of the Echuca Shoals gas project.
Nexus has estimated that Crux’s contingent resources are 71 million barrels of condensate and 2 trillion cubic feet of gas, based on data from the discovery well.
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, and shellwikipedia.com, are owned by John Donovan. There is also a Wikipedia segment.
EBOOK TITLE: “SIR HENRI DETERDING AND THE NAZI HISTORY OF ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON
EBOOK TITLE: “JOHN DONOVAN, SHELL’S NIGHTMARE: MY EPIC FEUD WITH THE UNSCRUPULOUS OIL GIANT ROYAL DUTCH SHELL” – AVAILABLE ON AMAZON.
EBOOK TITLE: “TOXIC FACTS ABOUT SHELL REMOVED FROM WIKIPEDIA: HOW SHELL BECAME THE MOST HATED BRAND IN THE WORLD” – AVAILABLE ON AMAZON.
