Royal Dutch Shell is planning to sell the 106,000-acre stake it currently holds in the Eagle Ford shale formation in South Texas.
Shell told the Wall Street Journal that the Eagle Ford holdings have not meet the company’s targets for either size or profitability.
The stake “offers a valuable growth opportunity for another experienced operator,” Shell spokeswoman Kelly op de Weegh said.
The company will continue to operate its 150 production wells in the Eagle Ford while shopping for potential buyers and allowing them to review technical data on the holdings.
The estimated value of the assets has not been disclosed.
Shell also pulled up its stakes and ceased operations in Kansas as its wells there have failed to show enough potential oil production.