Shell continues Rocky Mountain selloff

DENVER BUSINESS JOURNAL - A year after announcing it would sell off assets in far-flung corners of Colorado,Royal Dutch Shell plc said Thursday its U.S. division will unload gas assets across the state line in Wyoming.

The international energy giant said it would sell off rights to shale formations in Wyoming's Pinedale area to Ultra Petroleum Corp. in exchange for $925 million plus rights to 155,000 acres in the Marcellus and Utica shale of Pennsylvania and Ohio.

Shell also announced it would unload assets in Louisiana's Haynesville area for $1.2 billion.

Shell's sale is part of a larger move out of less productive shale plays and into more prolific areas.

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