Shell agreed to sell its assets in the Haynesville shale to Vine Oil & Gas and Blackstone Energy Partners for $1.2 billion, the company announced today. The Haynesville assets include 107,000 net acres in north Louisiana with 418 producing wells — 193 of which are operated by Shell. Shell said it had a working interest share of approximately 250 million cubic feet per day of dry gas from its Haynesville assets as of July 1.
“We very much appreciate the support we have had in north Louisiana, and we will continue to operate in the state, as we have for decades, through our downstream, retail, midstream and New Orleans-based deepwater operations,” Shell Upstream Americas Director Marvin Odum said in a company news release.
In a separate transaction, Shell agreed to sell its Pinedale asset in Wyoming to Ultra Petroleum. Shell will receive 155,000 net acres in the Marcellus and Utica regions in Pennsylvania and $925 million in cash in that deal. Shell’s net production from Pinedale in the second quarter of this year was 190 million cubic feet per day of dry gas. Ultra Petroleum produced an average of 109 million cubic feet per day from the Marcellus and Utica assets it is selling to Shell in the first half of 2014.
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