Shell Energy North America Closes on Acquisition of Enspire Energy’s Assets

HOUSTON, Feb. 2 /PRNewswire/ — Shell subsidiary, Shell Energy North America (US), L.P. today announced it has closed its acquisition of the assets of Enspire Energy, LLC, a Virginia-based energy marketing company that serves customers throughout the Mid-Atlantic United States.

“Synergies between Shell Energy and Enspire were evident immediately as is illustrated by the rapid closing of the acquisition agreement. We are excited about the opportunities this acquisition provides for our customers,” said Mark Quartermain, president of Shell Energy North America.

The acquisition was effective February 1, 2009 and includes hiring Enspire’s employees.

“We’re enthusiastic about being a part of Shell Energy. The Enspire portfolio fits nicely into Shell Energy’s diverse offerings and this acquisition allows our customers to benefit from enhanced financial stability and a diverse array of energy products and services coupled with a fierce commitment to service excellence,” said Jim Lukas, general manager, Mid-Atlantic Commercial, Industrial and Aggregator Business and former president and CEO of Enspire.

Shell Trading is a global business network integrating the worldwide energy trading activities of Royal Dutch Shell plc companies, of which Shell Energy North America (US), L.P., and its subsidiaries, are an integral part. Headquartered in Houston, Texas, with trading and marketing offices located across North America, Shell Energy offers a comprehensive portfolio of energy-related products and services associated with natural gas, power and environmental products marketing and trading. Shell Energy markets and trades natural gas, wholesale power and risk products with counterparties and customers across North America. Its customers include commercial and industrial end users, utilities, producers, generators and aggregators.

Shell Oil Company, including its consolidated companies and its share in equity companies, is one of America‘s leading oil and natural gas producers, natural gas marketers, gasoline marketers and petrochemical manufacturers. Shell, a leading oil and gas producer in the deepwater Gulf of Mexico, is a recognized pioneer in oil and gas exploration and production technology. Shell Oil Company is an affiliate of Royal Dutch Shell plc, a global group of energy and petrochemical companies, employing approximately 104,000 people and operating in more than 110 countries and territories.

 

Disclaimer statement:

This news release may contain forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ”anticipate”, ”believe”, ”could”, ”estimate”, ”expect”, ”intend”, ”may”, ”plan”, ”objectives”, ”outlook”, ”probably”, ”project”, ”will”, ”seek”, ”target”, ”risks”, ”goals”, ”should” and similar terms and phrases. Also included as a forward looking statement is our disclosure of reserves, proved oil and gas reserves, proven mining reserves, organic reserves, net reserves and resources. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this news release, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for the Group’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including potential litigation and regulatory effects arising from recategorisation of reserves; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this news release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended December 31, 2007 (available at www.shell.com/investor andwww.sec.gov). The reader also should consider these factors. Each forward-looking statement speaks only as of the date of this news release. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this news release.

The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this news release that SEC’s guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov. You can also obtain these forms from the SEC by calling 1-800-SEC-0330.

Website: http://www.shell.com/investor/

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