Marubeni Sells a Portion of its Shale Oil and Gas Assets in US
Source: www.gulfoilandgas.com 3/26/2018, Location: North America
Marubeni Corporation announces that Marubeni, through its subsidiaries, has reached agreements with two independent oil and gas companies in the U.S.A. to sell a part of Marubeni’s interests in the Eagle Ford shale oil & gas assets located in the state of Texas. The deal was completed as the closing terms and conditions of the contract have been met.
Marubeni is reinforcing its financial foundation as the top priority under the Revised GC2018 Management Policy. Marubeni is accelerating asset recycling as part of the enhancement of the cash flow management and this deal is expected to contribute to that goal.
This deal has a negligible effect on Marubeni’s earnings.
