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Reliance Eagleford upstream holding lp sings agreement for sale of its assets in Eagleford shale play in USA | Reliance Industries to sell its shale gas assets in the US

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Reliance sells its SAIL gas business in North America

New Delhi: Reliance Industries Ltd. (RIL) has agreed to sell its stake in Eagleford’s shale gas assets. With this the company exited the shale gas business in the US. However, the value of the deal has not been disclosed. Reliance bought stake in three upstream exploration joint ventures with Chevron, Pioneer Natural Resources and Carrizo Oil & Gas and one midstream joint venture with Pioneer between 2010 and 2013.

Midstream refers to the processing, storage, transportation and marketing of hydrocarbons. Reliance Eagleford Upstream Holding, LP, a subsidiary of Reliance Industries, has announced the signing of agreements with Ensign Operating 3, LLC for the divestment of its stake in the assets of Eagleford Shell, the company said. With this transaction, Reliance has sold all its shale gas assets in North America and exited the shale gas business.

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