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Reliance exits North America shale gas business

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Oilfield Technology,

Reliance Eagleford Upstream Holding, LP, a wholly owned step-down subsidiary of Reliance Industries Limited (RIL), has announced the signing of agreements with Ensign Operating III, LLC to divest its interest in certain upstream assets in the Eagle Ford shale play in Texas, US.

With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America.

A Purchase and Sale Agreement was signed between REUHLP and Ensign on 5 November 2021 for this sale. According to Reliance, the sale is at a consideration higher than the current carrying value of the assets.

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