Reliance Industries Ends US Shale Gas Exit: Eagleford Unit Dissolved, Marcellus Stake Re-Shuffled

Reliance Industries Ltd (RIL) has concluded its withdrawal from the US shale gas business, ending an era that started in 2010. The latest financial reports show that Reliance Eagleford Upstream LLC did not make any contribution to FY 2023-24 turnover and has been wound up. Also, RIL's 23.42% stake in Reliance Marcellus LLC has been brought over to the company.

 

This transaction marks the completion of RIL's disposal of its North American shale gas assets, which started in 2017 when the company began selling its US shale gas businesses. The exit is part of RIL's strategy to refine its global energy portfolio, diverting attention away from the previously promising but eventually problematic shale gas business.

 

The break-up of Eagleford Upstream and Marcellus holdings restructuring indicate RIL's flexible response to shifting market forces in the energy space, enabling the conglomerate to redirect resources to more attractive opportunities.

 

Sources: Reliance Industries Limited Annual Report 2023-24, Economic Times, March 19, 2025