Energy
Shell's South Texas Gas Fields for Sale
Stock quotes in this article:RDS.A
HOUSTON (TheStreet) -- Royal Dutch Shell's(RDS.A) U.S. subsidiary has put its South Texas gas fields up for sale, the Wall Street Journal reports.
The sale by Shell Oil could fetch roughly $1 billion, the Journal reports, citing people familiar with the matter. The most likely buyer for the natural-gas assets is an energy-focused private-equity firm or Master Limited Partnership, the newspaper reports. Shell's 400 wells in South Texas produce about 210 million cubic feet of natural gas every day, the Journal reports, citing information from the company's Web site. People familiar with the matter described the fields as "mature," meaning that large volumes of gas already have been produced from them, the Journal adds. Shell couldn't be reached for comment. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.TheStreet Premium Services
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