Reliance Industries Ltd (RIL) on Monday fully exited shale gas — a business it had entered a decade ago .
The oil-to-telecom conglomerate said that it has sold its holding in EagleFord shale gas assets.
Reliance Industries’ foray into shale gas play in the US began in 2010 when it signed joint venture agreements with Atlas Energy, Pioneer Natural Resources and Carrizo Oil & Gas. Over the years, it has disengaged from these shale ventures
During that year, RIL subsidiary Reliance Eagleford Upstream Holding LP had entered into a joint venture with Pioneer Natural Resources Company, under which Reliance acquired a 45 per cent interest in Pioneer’s core Eagle Ford shale acreage position.
