Oil company Royal Dutch Shell PLC (RDSA.LN) Wednesday said it acquired liquids-rich shale acreage in Texas from Chesapeake Energy (CHK) in a 1.94 billion dollars transaction.
Oil company Royal Dutch Shell PLC (RDSA.LN) Wednesday said it acquired
liquids-rich shale acreage in
Texas
from
Chesapeake Energy (CHK) in a 1.94 billion dollars transaction.
MAIN FACTS:
-Transaction is expected to close within 30 days.
-Acquisition provides both existing production and near-term growth potential
from a proven resource, as well as promising opportunities for expansion.
-Acquisition covers 618,000 net acres in the
Permian
Basin
in
West
Texas
that currently produces 26,000 barrels of oil equivalent per day and
has significant growth potential.
-Class A shares of Royal Dutch Shell at 1105 GMT down 4 pence, or 0.2%, at 2234
pence.
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