Shell looks to sell US shale portfolio after $2bn writedown.

FT: “Shell is to sell its position in the Eagle Ford shale in Texas, two months after announcing a big writedown on the value of its US shale assets.”
“Shell took impairments of $2.1bn in the second quarter, mostly related to its tight oil assets in North America, and said it had launched a strategic review of its shale portfolio there.
….By the time Shell and the other oil majors began to build up big positions in areas like the Barnett Shale in Texas and the Eagle Ford, the big surge in shale gas output had caused a sharp drop in gas prices, hurting the majors’ earnings.”