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Shell considering sale of holdings in largest U.S. oil field, worth up to $10 billion


Oil giant Royal Dutch Shell is reviewing its holdings in the largest oil field in the United States for a possible sale as the company looks to focus on its most profitable oil-and-gas assets and grow its low-carbon investments, according to sources familiar with the matter.

The sale could be for part or all of Shell’s about 260,000 acres (105,200 hectares) in the Permian Basin, located mostly in Texas. The holdings could be worth as much as $10 billion, the sources said, on condition of anonymity because the talks are private.

Shell declined to comment.

Shell is one of the world’s largest oil companies, all of which have been under pressure from investors to reduce fossil-fuel investments to stem changes to the global climate brought on by carbon emissions. Shell, BP Plc and TotalEnergies have pledged to lower emissions through increased investment in renewables while divesting some oil and gas holdings.

Mergers and acquisitions activity in the top U.S. shale field jumped in the last year as some firms sought to bolster holdings and others looked to take advantage of rising prices to sell. U.S. oil futures are up 49% this year to nearly $72 per barrel, more than double their 2020 low as oil demand returned with the pandemic ebbing.

Earlier this year, Shell set out one of the sector’s most ambitious climate strategies, with a target to cut the carbon intensity of its products by at least 6% by 2023, 20% by 2030, 45% by 2035, and by 100% by 2050 from 2016 levels. However, a Dutch court said last month that Shell’s efforts are not enough, ordering it to lower emissions by 45% by 2030 from 2019 levels.

Last month, the International Energy Agency (IEA) said in a report that investments in new fossil fuel projects should stop immediately if consumers wanted to meet U.N.-backed targets aimed at limiting global warming.

Oil majors, including Shell, say the world will need substantial new investment in oil and gas for some years to come to meet demand for motor fuels and chemicals.

Shell’s oil and gas production in the Permian from company-operated and non-operated rigs averaged 193,000 barrels of oil equivalent per day in 2020, around 6% of its total output that year, according to its website.

The Permian produces roughly 4.5 million barrels of oil a day, or about 40% of overall U.S. production.

More deal-making could take place this year, with Chevron, Exxon Mobil and others looking to shed unwanted assets and raise cash, according to industry experts. Last week, Occidental Petroleum agreed to sell some of its Permian holdings to Colgate Energy for $508 million in a move to reduce its debt.

Most Permian deals this year have been concluded at between $7,000 and $12,000 per acre, said Andrew Dittmar, an M&A analyst at energy researcher Enverus.

Rising activity has pushed up prices. In April, closely held DoublePoint Energy sold to Pioneer Natural Resources for about $40,000 per acre, a level not seen since the 2014-2016 rush by producers to grab positions in the Permian.

Several smaller shale companies including KKR-owned Independence Energy have combined this year. A lack of interest in oil IPOs have private equity owners aiming to increase their production while awaiting investor interest in new offerings.


16 Comments on "Shell considering sale of holdings in largest U.S. oil field, worth up to $10 billion"

  1. IAmTheKingOfTheEarth on Sun, 13th Jun 2021 5:11 pm 

    Allo controller of the earth, entertain me please

  2. IAmOnYouTubeEntertainMeControllerofTheEarth on Sun, 13th Jun 2021 5:45 pm 

    Where are you controllers of the earth, you know that I am on youtube now , so communicate with me, entertain me fucking sucker.

    Just saying controllers of the earth, we the human race want the control of the earth, the transfer of all you tech knowledge and all the knowledge you have about bigger earth.

    today I maintain my prostate, I am still having orgasm without ejaculation. I would like to thanks the controllers of the earth or the Satanists for that.

    I figured that since you build all the Internets companies like Cisco and so, you can easily spy on me without Videotron knowing about it. So you spy on people and internet provider don’t know about it.

    Some people that take picture of shape shifter on their phone, say that they get their picture deleted or blurry, I guess that must be you. So you are the ones that control the Internet companies because you own them and you help us, humans, to build them with you.

  3. EntertainMeMoreCockSucker on Sun, 13th Jun 2021 6:05 pm 

    I research a bit orgasm without ejaculation. This could be witch spell. Does it stay with me all life or you have to cast the spell before I maintain my prostate. I would be honest they are really pleasant and relaxing. I get something like between 5 and 10 before I finish myself with ejaculation

  4. IAmStillTheKingOfTheEarth on Sun, 13th Jun 2021 6:22 pm 

    Even if your orgasms without ejaculation are pleasant, I still have to destroy the earth, because the controller of the earth don’t want to share their knowledge with us.

    So I thank you for them, but I could live without them if I have too. I also think that on top of using earth as a manufacturing hub, the controllers of the earth are also using the earth as food source:human babies, fishes, cattle and so on.

  5. YouCannotKillAnOldMan on Sun, 13th Jun 2021 6:33 pm 

    I see that you are trying to scare me with shit like this. You can not kill and old man that have nothing to lose. Both of my parents died at 65. I am about 55 year old. 55/65 = 0.85 So I lived about 85% of my life. It does not matter if you kill me today, I have already lived 85% of my life. You cannot kill an old man.

    The Warning – CHOKE (Official Video)

  6. YouCannotIntimidateMeLosers on Sun, 13th Jun 2021 6:38 pm 

    It does not matter if you kill me, I did everthing I had to do on this earth. I have all the answers to the questions I was asking myself. I am just patiently waiting to die here. I had a nice life, better then most people, just waiting my turn to die.

  7. StupidBitch on Sun, 13th Jun 2021 7:07 pm 

    Another thing, your spell are just working on me if I accept them. I just have to reject them and they go away. I did it before. Who is sending this spell. Debbie Harris. The bitch can go fuck herself. This thing is a two way street. Just saying bitch.

  8. IStillDontGiveAShit on Sun, 13th Jun 2021 7:11 pm 

    I will repeat that Satanists, you will not keep control of this earth. Either the controllers of this earth share all their knowledge with us or earth stop being a industrial hub and food hub for them.

  9. WeAgreeOnSomething on Sun, 13th Jun 2021 7:17 pm 

    I Hate Everything About You – Three Days Grace | Violet Orlandi ft Halocene COVER

    You hate everything about me and I hate everthing about you. GOOD we at least agree on something.

  10. WeWantTheControlOfTheEarth on Sun, 13th Jun 2021 8:59 pm 

    Can you believe that people, the Devil and the Freemason/Illuminati’s have beeb trying to recruit me for a while. They don’t really want to put me in top position, they are intersted at manipulating me, using me and stealing my ideas.

    They told me I would have to climb the Freemason ladder one step at the time, starting at bottom level 4.

    You see, me I think I can start governing the world right away as the king of the world. I think I have proven my self enough. Freemason don’t want that, they have no respect for me, they want my knowl3edge and idea.

    The keep sending me this message, it is along to top.

    Just go fuck yourself fucking loser. The human race want all the knowledge that you have. We want the control of the earth.

  11. YouFuckWithTheWrongGuy on Sun, 13th Jun 2021 11:41 pm 

    It is quiet in my head. I think the devil is gone. They know that I know. They can speak to you indirectly. It looks like some kind of background noise. These were the ones fucking with me.

  12. LifeIsAFailure on Mon, 14th Jun 2021 10:08 am 

    I just finished sewing my self a wind breaker coat with a detachable hood. I have a nice peaceful life that I like. I believe no man are indispensable as stated in the quote below. I still don’t understand why people want to be lead by others.

    I still don’t understand why people want to live at any cost. I consider life a failed experiment. Don’t matter what form it takes

    I have questions and I am willing to listen what other have to say.

  13. Duncan Idaho on Mon, 14th Jun 2021 6:32 pm 


    Time for the proletariat to wake up?

  14. Biden's hairplug on Tue, 15th Jun 2021 5:09 am 

    “Time for the proletariat to wake up?”

    Please do.

    Let the Dems put the Ax to the Reps… so the world can put the ax to America and bury ZOG once-and-for-all, park the white Reps into a 120 million Confederate 2.0 republic, where they no longer can do any harm to white people world-wide, including to themselves.

    Waddaya waiting for, donkey idaho?

    The world is waiting to throw crappy little you against the wall, just to show we mean business.

    “Every ten years or so, the United States needs to pick up some small crappy little country and throw it against the wall, just to show the world we mean business”

    (((Michael Ledeen)))

  15. Ted Wilson on Tue, 15th Jun 2021 9:23 am 

    As the electric vehicle sales accelerate, shell will see its sale of oil dwindle. Better to act now instead of getting shocked tomorrow.

  16. Cloggie on Sun, 20th Jun 2021 6:23 am 

    “Shell considering sale of holdings in largest U.S. oil field, worth up to $10 billion”

    Dump the grease while you can still find a loon willing to pay for it.

    “Shell Defeated in Dutch Court”

    “Marjan van Loon & the Energy Transition Within Shell”

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