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.
Exclusive contributions come from Wild Well Control, Cudd Pressure Control, TMK, NOV, Archer, Tendeka, TETRA Technologies and more.
Read the article online at: https://www.oilfieldtechnology.com/hydraulic-fracturing/09112021/reliance-exits-north-america-shale-gas-business/
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