The Hague, September 10, 2012 - Royal Dutch Shell plc announced today it has
agreed to sell its 50% working interest in the Holstein Field, comprised of
Green Canyon Blocks 644, 645 and 688 in the Gulf of Mexico, to Plains
Exploration & Production (PXP) for approximately $560 million, subject to
closing.
Shell received an unsolicited offer from PXP for Shell's working interest. The
transaction is effective October 1, 2012 and is expected to close by year-end
2012.
Holstein is a mature deepwater asset and the sale is consistent with Shell's
continuing practice of reviewing our existing portfolio and evaluating new
opportunities.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in