Shell is to sell a group of gas fields in South Texas, US, to Occidental Petroleum subsidiary OXY USA for $1.8bn.
The fields include all Shell’s gas-producing properties and related assets in South Texas, where Shell first drilled wells in 1953.
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The predominately mature tight gas fields produce 200 million cubic feet of gas equivalent per day.
Both firms signed a definitive sales agreement and the transaction is expected to close in early 2011, subject to regulatory approvals.
