Shell's South Texas Gas Fields for Sale
HOUSTON (
) --
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.
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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
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