India's private-sector RIL has exited the shale gas business in North America with the divestment of interest in certain upstream assets in the Eagleford shale play of Texas by its subsidiary Reliance Eagleford Upstream Holding.

The upstream subsidiary has signed an agreement for sale with Ensign Operating III, a Delaware-based company, to divest its interest in the Texas asset, while RIL has sold all its shale gas assets with this transactions, the company said.

"The sale is at a consideration higher than current carrying value of the assets," it added.

RIL had also sold its interest in certain upstream assets in the Marcellus shale play of southwestern Pennsylvania to US Northern Oil and Gas earlier in the year.

By Sathya Narayanan

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Argus Media Limited published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 07:12:02 UTC.