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Replies to post #476 on Shell Plc (SHEL)
DewDiligence
09/20/21 8:15 PM
#477 RE: DewDiligence #476
Shell said $7 billion of the proceeds will be returned to shareholders [presumably in the form of share repurchases], while it will use the remainder [~$2.5B] to shore up its balance sheet. The European oil giant had acquired the bulk of its Permian assets in 2012 from Chesapeake Energy Corp.for about $1.9 billion. ConocoPhillips said the assets, entirely in Texas, included about 600 miles of oil, natural-gas and water pipelines and other energy infrastructure. … The price tag was in line with recent deals in the Permian Basin, at around $47,500 per barrel of oil equivalent, said Subash Chandra, an analyst at Northland Capital Markets.