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REUTERS
Shell and Anadarko Petroleum may let a 10-year joint venture in the Permian basin expire and split their properties, hoping to speed up development, according to a senior Shell executive. The divorce and re-parceling of acreage would let each company drill and develop new wells at its own pace in the Permian, which has become the US oil industry's hottest development area for its low operating costs. Shell and Anadarko have been discussing how to proceed after the partnership agreement expires this summer and are not likely to renew it, Greg Guidry, who oversees the Anglo-Dutch group's shale business, told Reuters.
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REUTERS
Shell and Anadarko Petroleum may let a 10-year joint venture in the Permian basin expire and split their properties, hoping to speed up development, according to a senior Shell executive. The divorce and re-parceling of acreage would let each company drill and develop new wells at its own pace in the Permian, which has become the US oil industry's hottest development area for its low operating costs. Shell and Anadarko have been discussing how to proceed after the partnership agreement expires this summer and are not likely to renew it, Greg Guidry, who oversees the Anglo-Dutch group's shale business, told Reuters.
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