Royal Dutch Shell Natural Gas Exploration Projects Future in North America

Royal Dutch Shell Natural Gas Exploration Projects Future in North America

Wednesday, April 14, 2010

Royal Dutch Shell has quietly expanded its position in an emerging natural gas field in South Texas as part of a broader bid to become a bigger player in the North American gas business in coming years, the company’s top U.S. executive said Friday.

The company recently leased 150,000 acres in an area generally referred to as the Eagle Ford shale play south of San Antonio, said Marvin Odum, president of Houston-based Shell Oil Co., the U.S. arm of the European oil giant. He declined to disclose the seller or the amount of the investment.

He now considers the holdings a key piece of a North American gas portfolio the company has spent the last two years building, and that now encompasses 2.4 million acres of land and a resource holding of 21 trillion cubic feet of natural gas — 8 trillion cubic feet of which was added in 2009 alone.

“It’s time for Shell to step out and show what we’ve done in that area,” Odum told the Chronicle in an interview Friday on the sidelines of Eco-marathon, a Shell-sponsored student competition downtown showcasing energy-efficient vehicles.

Royal Dutch Shell Natural Gas Exploration Projects Future in North America Reviewed by NajlA On Wednesday, April 14, 2010, at 8:35 PM Rating: 5
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