Following the landmark case brought by activist environ groups, Royal Dutch Shell appears to be in serious scramble mode. The E&P giant lost its battle in a Dutch courtroom May 26th when the presiding judge issued a hardline ruling for Shell to accelerate its C02 reduction plans and slash emissions by 2030 from 20% to 45%. Reese Energy Consulting today is following the latest news from Shell, which now is “reviewing” (read: considering a sale of) its most coveted U.S. trophy. With 260,000 acres in the prolific Delaware, eight central production facilities, and 60 MBPD in production, Shell ranks as the largest operator in the Permian. The Permian also happens to represent the company’s core light tight oil assets valued at $10 billion, although accounts for only 6% of its total oil and gas output. Whether or not a sale lies ahead, the legal case precipitating Shell’s decision to exit could well set a precedent for a global oil and gas industry still getting back on its feet… and even the most aggressive carbon-reduction plans viewed as not good enough.
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Royal Dutch Shell
Royal Dutch Shell plc, commonly known as Shell, is a British-Dutch multinational oil and gas company headquartered in The Hague, Netherlands, and incorporated in the United Kingdom as a public limited company.