RIL sells few assets in Eagle Ford Shale in US for $100 million
Posted on 27th March 2018 |
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| Mukesh Ambani, Reliance Industries on Tuesday, announced an agreement to divest its interest in certain acreage, producing wells and related assets in the western portion of its Eagle Ford shale position for a consideration of $100 Million. “Reliance Eagleford Upstream Holding LP, a subsidiary of both Reliance Holding USA, Inc., and Reliance Industries, announced the signing of a purchase and sale agreement with Sundance Energy Inc. to divest its interest in certain acreage, producing wells and related assets in the western portion of its Eagle Ford shale position for approximate consideration of $100 Million, subject to certain customary adjustments and closing terms and conditions,” the company said in its statement. The sale is expected to close in the first quarter of the next financial year, subject to customary closing conditions. The transaction, the company added, is in conjunction with sales made by Pioneer Natural Resources USA Inc and Newpek LLC, the other working interest owners in the Joint Development with Reliance. The assets being sold, the company said, were not part of near term development plan of the Joint Development. “Reliance continues to retain its interest in the remaining Eagle Ford assets that are core to its development priorities,” it further added in the statement. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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