Reliance to invest upto US$4.5 bln in three US shale gas

01-Nov-10

India's Reliance Industries plans a total spending on the three US shale gas projects of about US$4-4.5 billion by 2014. The company is in no hurry to forge more such partnerships for now. The spending will start ramping up in 2011 and hit a plateau in 2013/14 when RIL would have between the three partnerships drilling of about 500-600 wells per year. The peak net cash outflow will be most likely in 2014. RIL's next priority is to consolidate the three projects, scale them up, and get them to be profitable.