Shell builds shale assets despite environmental concerns
Shell's $4.7 billion shale assets purchase today flies in the face of industry concerns about the impact of tighter regulations on future production
Royal Dutch Shell on Friday paid $4.7 billion for a gas producer primarily focused on the Marcellus shale in the northeastern US, though BP's Gulf of Mexico "Horizon" oil spill could see regulators tighten rules on shale extraction techniques, according to industry expert Matthew Simmons of Simmons and Company.
The purchase of East Resources will give Shell access to 1.05 million net acres, including around 650,000 net acres in Marcellus. East Resources has some 10,000 barrels oil equivalent
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