Shell Offshore Inc., a subsidiary of Shell plc, will sell its 100% interest in Shell Onshore Ventures LLC to IKAV for about $2 billion, the company announced.
Shell Onshore Ventures holds a 51.8% membership interest in Aera Energy LLC. The sale is for a total consideration of approximately $2 billion in cash with additional contingent payments based on future oil prices, subject to regulatory approval.
The transaction has an effective date of October 1, 2021, and is expected to close in Q4 2022.
“This decision supports our strategy to create a resilient and competitive Upstream portfolio by focusing on positions with high growth potential and a strong integrated value chain,” said Zoe Yujnovich, Shell’s Upstream Director.
Headquartered in Bakersfield, California, Aera Energy LLC is operated as an independent company.
While this transaction will end Shell’s Upstream position in California, Shell will remain active in the state through a variety of other assets and projects.
Treasury Secretary Janet Yellen fired off a warning shot to Congress at the moment, flagging a crucial debt ceiling timeline that might rattle markets in early 2025.Debt ceiling reinstates Jan 2Default threat window:...
Desk of Contents
Desk of Contents
A Canine’s Means Dwelling (2019)
Breaking (2022)
Alien 3 (1992)
Welcome to the ultimate weekend of 2024. That is the house stretch, and the hiatus between holidays as we countdown to New...
Investing.com-- Bitcoin remained flat on Friday amid comfortable year-end buying and selling volumes, whereas traders stayed cautious concerning the prospect of cryptocurrencies after the Federal Reserve turned hawkish final week.
fell 1.7% to...
Xbox Cloud Gaming service has been down since Thursday, in accordance with the official Xbox Assist Twitter account. It seems that the service, which helps you to play Xbox video games on telephones, tablets...
