Shell and Anadarko consider split in Texas

The joint venture between Shell and Anadarko in Texas could soon be a thing of the past. The two companies are considering going their separate ways in order to speed up development of oil fields.

Photo: /ritzau/Nabil al-Jurani/Arkiv

Over the past decade, Shell and Anadarko Petroleum Corporation have worked together in a joint venture in the Permian Basin in Texas, USA. But that could soon be over, as the two companies are considering allowing the venture to expire and divvying up the properties in the hope that development will go faster, reports Reuters.

The current partnership expires in the summer, and a split would enable the two companies to drill and develop new wells at their own pace.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Price cap on gas in Europe is a complex issue and potentially very costly

European lawmakers demand action to rein in gas prices, and the EU Commission has drafted a plan. However, gas prices constitute tricky puzzle: No matter how it’s approached, Europe faces an energy shortage in the next six months. The only way to help consumers is through aid, but this is a potentially costly and dangerous path, says analyst.

Further reading

Related articles

Latest News

See all jobs