Shell Oil pulling up stakes, selling Kansas assets

shell oil

[lin_video src=http://eplayer.clipsyndicate.com/embed/player.js?aspect_ratio=16x9&auto_next=1&auto_start=1&div_id=videoplayer-1379971188&height=480&page_count=5&pf_id=9622&show_title=1&va_id=4370032&width=640&windows=1 service=syndicaster width=640 height=480 div_id=videoplayer-1379971188 type=script]

WICHITA, Kan. (AP) — Shell Oil says it is selling off its 45 wells and 600,000 acres in Kansas after its exploratory wells didn’t show enough potential to keep the energy company in the state.

The Wichita Eagle (http://bit.ly/1btMLiH) reports Shell joins several other major exploration companies that have given up on Kansas. Chesapeake Energy, Encana and Apache have been gone for more than a year, while three other companies haven’t filed an intent to drill since at least April.

Shell spokesman Scott Scheffler says the company felt its best value option was to sell its Kansas assets and go elsewhere.

Some other companies say they are doing fine in Kansas and plan to expand their operations in the state.

___

Information from: The Wichita (Kan.) Eagle, http://www.kansas.com

blog comments powered by Disqus