Reliance sell selected assets in Eagle Ford shale $100 million

Reliance to sell selected assets in Eagle Ford shale for $100 million

3:12 PM, 27th March 2018
Reliance to sell selected assets in Eagle Ford shale for $100 million

MUMBAI, INDIA: Reliance Eagleford Upstream Holding LP has signed an agreement with Sundance Energy Inc, to divest its interest in certain acreage, producing wells and related assets in the western portion of its Eagle Ford shale position, for an approximate consideration of $100 million.

Reliance Eagleford Upstream Holding LP is a subsidiary of both Reliance Holding USA Inc and Reliance Industries Limited. The sale is expected to close in 1st quarter FY19.

This transaction is in conjunction with sales made by Pioneer Natural Resources USA Inc and Newpek LLC, the other working interest owners in the joint development with Reliance.

The assets being sold are located in Atascosa, La Salle, Live Oak and McMullen Counties, Texas and were not part of near-term development plan of the joint development. Reliance continues to retain its interest in the remaining Eagle Ford assets that are core to its development priorities.

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