Reliance Acquire Shale Gas Company in USA

Indian energy company Reliance Industries has agreed to acquire 45 percent of deposits of shale gas company Pioneer Natural Resources in the U.S. for $ 1.35 billion, Financial Times reported today. 

Reliance will be the co-owner of Eagle Ford Field in south Texas. In April the company bought 40 per cent of deposits of shale gas company Marcellus Shale in the eastern U.S. for $ 1.7 billion. The company and Atlas Energy has agreed to establish a joint venture.