Energy giant Royal Dutch Shell announced on Friday it has reached a deal to buy most of the assets of U.S. shale gas producer East Resources for US$ 4.7 billion in cash, becoming a top shale gas player in the northeastern U.S. The agreement comes in the wake of the BP oil leak in the Gulf of Mexico, and as the oil and gas industry is subject to increasing scrutiny. Yesterday the U.S. government said it would delay Shell’s request to drill five exploratory wells in the Arctic in the coming months.
It would be hard for small and mid-level companies such as East to develop shale gas fields due to the high capital expenditures these areas usually require so the company thought it would be more feasible to sell to a bigger player.
Publicado em: 11/8/2008 11:55:00
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