Is Shell looking to sell its stake in Haynesville shale? |

s Shell looking to sell its stake in Haynesville shale?Posted by: Marissa Hall in Haynesville Shale News August 11, 2014 0| Shale Plays MediaRoyal Dutch Shell is looking to sell its 50 percent stake in Haynesville, and the private-equity firm Blackstone Group LP is looking to buy. Oil and gas investments are popular among private-equity firms for the lucrative nature. Blackstone, led by billionaire Stephen Schwazman, has made investments in refineries and offshore drilling projects, but only recently has begun to add investments in natural gas to its repertoire. With insight from someone familiar with the matter, David Carey for Bloomberg reports:Blackstone would pay about $1.2 billion for Shell’s half-interest in the Haynesville formation, the person said. The deal would follow a parade of gas-acreage sales by oil companies including Shell and Apache Corp. APA to investors as they trim holdings amassed when natural-gas prices were higher.Major oil companies have been making changes to their holdings in the U.S. in an effort to focus their efforts and money where they will see the best returns. Gillian Tan and Ryan Dezember report for the Wall Street Journal:Shell Chief Executive Ben van Beurden said in March that the Dutch-Anglo oil company was seeking to reduce its exposure to North American shale as “we strive to improve our financial performance.”The company has since been making deals to reshape its U.S. shale portfolio. In May, Shell agreed to sell a big south Texas shale field to Sanchez Energy Corp.

via Is Shell looking to sell its stake in Haynesville shale? |