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Reliance Industries (RIL) has divested its stake in one of the 3 shale gas assets in the US, to BKV Chelsea for USD 126 million.
As per the company, Reliance Marcellus II, LLC, a subsidiary of Reliance Holding USA and RIL, closed the sale of its stake in the Marcellus shale gas asset operated by Carrizo Oil and Gas.
Further it added that, the deal was closed on November 24 and the company received the purchase consideration subject to usual and customary purchase price adjustments
Moreover, the assets sold produced gas mainly and are located in Susquehanna, Wyoming and Clearfield Counties of Pennsylvania.
