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.
Read the latest issue of Oilfield Technology in full for free: Issue 3 2021
Oilfield Technology’s third issue of 2021 starts with a report from Wood Mackenzie focusing on the upstream industry’s fortunes in Asia-Pacific. The rest of the issue is dedicated to features covering offshore engineering, coiled tubing, frac technology, completion technologies, water management, well placement and much more.
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Read the article online at: https://www.oilfieldtechnology.com/hydraulic-fracturing/09112021/reliance-exits-north-america-shale-gas-business/