Exploration & Production | Deals - Joint Ventures | Top Story | Quarterly / Earnings Reports
Reliance Industries Talks U.S. Shale Gas Business
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Reliance’s shale gas business in the United States comprises of three upstream joint ventures, each with Chevron, Pioneer Natural Resources and Carrizo Oil & Gas and a midstream joint venture with Pioneer. Aggregate investments since inception of these joint ventures stood at $ 5.7 billion, as at the end of 4Q FY 2012-13.
Reliance’s shale gas investments continued to grow in each of the joint ventures. Reliance’s share of gross production stood at 36.3 Bcfe in 4Q FY 2012-13, which reflects a growth of 12% over the trailing quarter.
Average combined daily production for all 3 JVs stood at 880.6 MMscfed (including~48,000 barrels of condensate) in 4Q FY 2012-13, which reflected a growth of 12% over the trailing quarter. As at the end of FY 2012-13, cumulative number of producing wells stood…
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