AmericasCorporate

Shell sells US shale gas assets for $541 million

By Mirza Duran
A Shell logo
Shell

Shell has reached a deal with US firm National Fuel Gas Company to sell its Appalachia shale gas position.

The Hague-based LNG giant Shell will sell the assets via its unit SWEPI for $541 million.

The deal includes about 350 producing Marcellus and Utica wells across about 450,000 net leasehold acres in Pennsylvania.

The current net production of the assets is about 250 million standard cubic feet per day.

The transaction also includes the transfer of the Shell owned and operated midstream infrastructure.

Shell says the transaction is part of divesting non-core assets. It is in line with the company’s shales strategy which focusses on development of higher margin, light tight oil assets.

“While we maximize cash in the current environment, our drive for a competitive position in shales continues,” Shell’s upstream director, Wael Sawan, said.

He added that shale is a core part of Shell’s upstream portfolio along with the deep water and conventional oil and gas businesses.

Most Popular

LNG Terminals

Venture Global’s Plaquemines LNG to commission third jetty

US LNG exporter Venture Global LNG has received approval from the US FERC to introduce hazardous fluids to the third jetty at its Plaquemines LNG export plant in Louisiana.
LNG Terminals

Another FSRU arrives in Egypt

The 160,000-cbm FSRU Energos Eskimo has arrived in Egypt from Jordan, according to shipping data. The unit is one of four FSRUs that will serve a charter deal with Egypt's EGAS as the country seeks to meet its growing demand for natural gas.
Vessels

MOL’s LNG carrier to feature SOFC tech

Japan's MOL and South Korea's Samsung Heavy Industries have received approval from classification society LR for the design of a 174,000-cbm LNG carrier integrating solid oxide fuel fell (SOFC) technology.

More News Like This

LNG Terminals

Shell takes FID on Aphrodite project to supply Trinidad’s Atlantic LNG

A unit of UK-based LNG giant Shell has taken the final investment decision for the development of the Aphrodite gas field to supply Trinidad and Tobago’s Atlantic LNG export plant.
LNG Terminals

Peru LNG terminal shipped five cargoes in May

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped five liquefied natural gas cargoes in May, two more than in the previous month.
Corporate

Shell shareholders re-elect CEO Wael Sawan

Wael Sawan will continue to lead London-based LNG giant Shell following shareholder voting at the company's annual general meeting on Tuesday.
LNG as Fuel

Singapore’s FueLNG wraps up 400th STS bunkering operation

Singapore’s FueLNG, a joint venture consisting of Shell and Seatrium, has completed its 400th ship-to-ship (STS) LNG bunkering operation. FuelLNG delivered LNG to BYD Shenzen, which is said to be the world’s largest LNG-fueled car carrier.

2025. © All rights reserved. LNG Prime LLC. 447 Broadway, New York, NY 10013, USA