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Fri, Oct. 10, 6:34 PM
- India's Reliance Industries (OTC:RLNIY) is seeking a buyer for its stake in the Eagle Ford Basin oil and natural gas joint venture with Pioneer Natural Resources (NYSE:PXD), a sale that could raise up to $4.5B, Reuters reports.
- PXD is the operator of the wells in the JV, which could complicate the sale process; it owns 46% of the venture and sold a 45% interest to Reliance for $1.2B in 2010.
- The property for sale produces 115K boe/day, with 60% of the production in liquids rather than gas.
Dec. 11, 2013, 9:02 AM
- BP and joint venture partner Reliance Industries (RLNIY) will invest up to $10B to quadruple their natural gas output in India from the current level of ~12M metric cubic meters/day by 2020, the head of BP's Indian unit says.
- Production from India's east coast KG-D6 block, the country's richest gas deposit, has declined from nearly 70M metric cubic meters/day in 2010; the companies have cited geological complexities as the main reason for the output fall.
Jun. 6, 2013, 7:57 AMIndia's Reliance Industries (RLNIY.OB) plans to invest 1.5T rupees ($26.4B) in its businesses over three years, Chairman Mukesh Ambani says, adding its U.S. shale gas activities had doubled its revenues in the past year and it would forge long-term partnerships to source crude for its refineries. Reliance signed JV energy deals in 2010 with ATLS, PXD and CRZO. | 1 Comment
May. 24, 2013, 10:38 AMReliance Industries (RLNIY.OB), BP and Niko Resources say they made a significant gas and condensate discovery at their Krisha Godavari D6 deepwater block off eastern India. Reliance, which operates the venture and holds a 60% interest with BP holding 30%, says the data suggests good flow potential and will evaluate development options. | Comment!
Feb. 19, 2013, 9:13 AMBP and Reliance Industries plan to jointly invest more than $5B within the next five years to boost gas output in a block in the Krishna-Godavari basin off India's east coast. The fall in output from India's largest gas find has affected the country's overall natural gas supplies, hurting plans of industries including power and fertilizer which use the fuel. | Comment!
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