Royal Dutch Shell Plc announced on Thursday the sale of onshore U.S. shale gas assets as the energy company restructures its North America production and reins in costs.Shell said it had agreed to sell its relatively mature natural gas-producing properties in Wyoming's Pinedale field and Louisiana's Haynesville field for about $2.1 billion in cash.The Anglo-Dutch company is selling the Pinedale asset to Ultra Petroleum in exchange for $925 million in cash and acreage in the Marcellus and Utica oil and gas shale fields in Pennsylvania.It will sell the Haynesville asset to Vine Oil & Gas LP and its partner Blackstone for $1.2 billion.
Shares of RDS-B traded higher by 0.51% or $0.42/share to $83.44. In the past year, the shares have traded as low as $65.92 and as high as $88.13. On average, 546122 shares of RDS-B exchange hands on a given day and today's volume is recorded at 64198.
Ultra Petroleum Corp. (Ultra) is an independent oil and gas company engaged in the development, production, operation, exploration and acquisition of oil and natural gas properties. Shares of UPL fell by 3.03% or $-0.68/share to $21.78. In the past year, the shares have traded as low as $18.22 and as high as $31.43. On average, 2938050 shares of UPL exchange hands on a given day and today's volume is recorded at 2378386.
Source
