Daily Mail: Shell mulls a move on Texan giant: “ROYAL Dutch Shell is one of several companies mulling a bid for a Texas gas group that could cost $1bn ($600m) according to US reports.”: Friday 30 December 2005
ROYAL Dutch Shell is one of several companies mulling a bid for a Texas gas group that could cost $1bn ($600m) according to US reports.
Chief Oil & Gas has hired a corporate finance firm to advise on the sale of its assets, which include leases in the Barnett Shale field in northern Texas.
Shell chief executive Jeroen van der Veer has expressed interest in oil or gas from difficult sources such as shale, as conventional reserves grow ever more expensive.
Local sources said Shell was one of seven companies interested in Chief's assets.
The Barnett field is thought to be huge. In August Shell bought rights in the field. Previously it sought to buy US gas group Barrett Resources, but was outbid. A report on Dow Jones newswires says it also looked at First Calgary, the Canadian firm which has a gas field in Algeria, in spring.
Shell down 3p to 1861p, wound not comment.
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