Shell Oil pulling out of northwest Colorado; energy leases for sale

Shell_LogoCathy Proctor Reporter-Denver Business Journal – August 8th 2013

Days after Royal Dutch Shell Plc, Europe’s biggest energy producer, announced a 60 percent drop in second-quarter results — largely due to a $2 billion write-down of its North American shale assets — the company has decided that its operations in Colorado’s Routt and Moffat counties are for sale.

The decision came after Shell said it would take a hard look at its North American portfolio.

But the company isn’t “walking away,” from its Colorado mineral rights leases, spokeswoman Carolyn Tucker said via email.

“Shell has decided to market our asset in Moffat and Routt Counties,” Tucker said.

Continue reading at The Denver Business Journal

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