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Big Oil Is Unloading Billions of Assets in Spring Cleanup

Royal Dutch Shell PLC decided it’s time to clean out its global energy portfolio. The oil giant could unload as much as $30 billion in assets as part of the purge.

by Matt DiLallo, The Motley Fool Jan 22nd 2014

Royal Dutch Shell PLC decided it’s time to clean out its global energy portfolio. The oil giant could unload as much as $30 billion in assets as part of the purge.

Shell game
Shell needs to make some changes after it warned that its profits would be significantly lower than analysts were expecting. But the company has been hinting for a while that it would be paring back its portfolio. Earlier this year Shell announced it was exiting several U.S. shale basins after returns failed to meet its expectations.

Because of this the company is looking for buyers for its Mississippian Lime assets in Kansas and Oklahoma as well as its Eagle Ford Shale assets in Texas.

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