Shell And Exxon Eye North Sea Asset Sales In $500M Deal: Report
Portfolio Pulse from Lekha Gupta
Shell and Exxon Mobil are nearing a $500 million deal to sell their jointly-owned gas fields in the southern North Sea to Viaro Energy. This move marks Exxon's complete exit from the North Sea and continues the trend of major oil companies retreating from the region. Shell's stock has gained 24% in the last 12 months, and investors can gain exposure through ETFs like Direxion Hydrogen ETF and VanEck Natural Resources ETF.
May 29, 2024 | 4:41 pm
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POSITIVE IMPACT
Chevron is set to sell its remaining oil and gas assets in the UK North Sea, ending its 55-year presence in the region.
Chevron's exit from the North Sea aligns with the trend of major oil companies retreating from the region. This strategic move could positively impact investor sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Investors can gain exposure to Shell through the VanEck Natural Resources ETF, which includes Shell as one of its holdings.
The ETF includes Shell, and the potential deal could positively impact the ETF's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Shell through the Direxion Hydrogen ETF, which has Shell as one of its holdings.
The ETF includes Shell, and the potential deal could positively impact the ETF's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Shell is nearing a $500 million deal to sell its North Sea gas fields, continuing its retreat from the region. The stock has gained 24% in the last 12 months.
The sale aligns with Shell's strategy to focus on more profitable prospects. The stock's recent performance and the potential deal could positively impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Exxon Mobil is nearing a $500 million deal to sell its North Sea gas fields, marking its complete exit from the region.
The sale completes Exxon's exit from the North Sea, allowing the company to focus on more profitable ventures. This strategic move could be viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80