Company Of The Day: Royal Dutch Shell

by Trefis Team
+10.13%
Upside
40.11
Market
44.17
Trefis
RDSA
Royal Dutch Shell Plc.
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What?  

Royal Dutch Shell (NYSE: RDS.A) will sell its assets in the Permian Basin – the most active oilfield in the U.S. –  to ConocoPhillips for about $9.5 billion.

Why?

The deal comes as Shell looks to cut down on carbon emissions while increasing its exposure to renewable energy.

So What?

Shell intends to return about $7 billion of the sale proceeds to shareholders while using the rest of the funds to bolster its balance sheet. Shell stock declined by about 1.6% in Monday’s trading, in line with the broader market.

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