Page 2 - Shell Onshore Ventures News Today : Breaking News, Live Updates & Top Stories | Vimarsana

                                SHELL PLC 3rd QUARTER 2022 UNAUDITED RESULTS                                                                   SUMMARY OF

Shell Offshore has agreed to sell its 100% interest in Shell Onshore Ventures, which holds a 51.8% membership interest in Aera Energy, to IKAV for a total

HOUSTON, Sept. 2, 2022 /PRNewswire/ -- Shell Offshore Inc., a subsidiary of Shell plc, has agreed to sell its 100% interest in Shell Onshore Ventures LLC which holds a 51.8% membership interest in Aera Energy LLC to IKAV 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 wit...

Shell Offshore Inc., a subsidiary of Shell plc, will sell its 100% interest in Shell Onshore Ventures LLC to IKAV for about $2 billion, effectively ending Shell's upstream operations in California.

Shell, has agreed to sell its 100% interest in Shell Onshore Ventures, which holds a 51.8% membership interest in Aera Energy, to IKAV for a total consideration of approx. $2 billion in cash. era Energy operates around 13,000 wells in the San Joaquin Valley in California, producing oil and associated gas.