Reliance Scouting for More Shale Gas Assets

Reliance Industries (RIL) is looking to acquire more shale gas assets in the US, Canada and Poland.

“RIL is looking for large shale gas assets, which will need investments of anywhere between $500 million and $2 billion,” Indian Express reported last week citing one of the investment bankers looking for assets.

RIL had invested in excess of $3.5 billion for three shale gas assets in the US in the past few years.

The company has invested $2.14 billion in Pioneer shale gas fields, $1.04 billion in Chevron’s shale gas field and $0.59 billion in Carrizo fields.

RIL’s acquisition of shale gas assets has given them an early mover advantage with their peers in the US. One, it gives enough time to gain technological expertise and, two, prepare itself to bid for shale gas assets in India, the newspaper said.