RIL’s unit to sell Marcellus shale assets for $250 million


2021-02-04 04:12:16

BENGALURU: Reliance Industries Ltd (RIL) said on Thursday its unit will sell its interest in certain upstream assets in the Marcellus shale in the United States for $250 million in cash to Northern Oil and Gas Inc.
The assets, currently operated by various affiliates of EQT Corp, will be sold for the cash consideration and warrants, that will allow for the purchase of 3.25 million common shares of NOG at an exercise price of $14 per common share over the next seven years, Reliance said.

In 2017 Reliance sold a shale oil and gas block in the Marcellus shale in northeastern and central Pennsylvania for $126 million.
Reliance, led by billionaire Mukesh Ambani, has been diversifying away from its mainstay energy arm to consumer-facing businesses in recent years.



Source link

29 Comments

  1. WesleyUtiff March 5, 2021
  2. Randyabemi March 8, 2021
  3. Wayneweday March 11, 2021
  4. Wayneweday March 12, 2021
  5. Wayneweday March 13, 2021
  6. Ricardomus March 16, 2021
  7. Ricardomus March 17, 2021
  8. Ricardomus March 18, 2021
  9. Ricardomus March 19, 2021
  10. MarvinHag March 22, 2021
  11. MarvinHag March 23, 2021
  12. MarvinHag March 25, 2021
  13. MarvinHag March 26, 2021
  14. MarvinHag March 27, 2021
  15. MarvinHag March 28, 2021
  16. VictorJonge March 29, 2021
  17. VictorJonge March 30, 2021
  18. Frankhem April 1, 2021
  19. Frankhem April 2, 2021
  20. Charlesget April 4, 2021
  21. Charlesget April 6, 2021
  22. Alfredted April 7, 2021
  23. Alfredted April 8, 2021
  24. Alfredted April 9, 2021
  25. HarryShife April 10, 2021
  26. HarryShife April 11, 2021
  27. Robertovob April 14, 2021
  28. Robertovob April 15, 2021
  29. Robertovob April 16, 2021

Leave a Reply