Royal Dutch Shell PLC plans to sell its stake in the Eagle Ford Shale in South Texas, following a $2 billion write-down of North American assets that the company announced in August.
Royal Dutch Shell PLC plans to sell its stake in the Eagle Ford Shale in South Texas, following a $2 billion write-down of North American assets that the company announced in August.
Shell’s sale of leases on 106,000 acres in the oil-and-gas-rich region illustrates the struggles major oil companies have had in places where smaller energy firms have thrived.
Shell said the Eagle Ford holdings didn’t meet the company’s targets for size and profitability.
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