Texas 225,000 Acre-Ker Drilling Area Sold to Permian Basin Holdings
Part of Transformation into an Environmentally Friendly Low-Carbon Energy Company
[Asia Economy International Department Reporter] Royal Dutch Shell, a major global energy company, has sold its drilling company in the largest oil-producing region in the United States.
The New York Times (NYT) reported on the 21st (local time) that Royal Dutch Shell sold Permian Basin Holdings for $9.5 billion (approximately 11.25 trillion KRW).
Permian Basin Holdings is a company that produces oil in a drilling area covering 225,000 acres located in West Texas. Its average daily production last month reached 200,000 barrels.
NYT analyzed that Royal Dutch Shell’s sale of Permian Basin Holdings was due to the need for clean energy development in response to climate change.
Royal Dutch Shell, a joint refining company of the Netherlands and the United Kingdom, announced plans to transform into an environmentally friendly low-carbon energy company by 2050.
In particular, it set a goal to reduce crude oil production by 2% annually until 2030.
Accordingly, Royal Dutch Shell has recently begun asset restructuring, including selling oil fields in Malaysia and the Philippines.
Meanwhile, ConocoPhillips of the United States, the new owner of Permian Basin Holdings, has risen as a major oil-producing company in the U.S. alongside ExxonMobil and others.
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