Indian conglomerate Reliance has sold a large shale oil and gas asset for $ 500 m . BKV Chelsea , an affiliate of energy utility conglomerate Kalnin Ventures , bought the block in the Marcellus shale in 2008 . The price is just a third of the amount Reliance paid seven years ago . However , the Indian oil - to - gas giant said it could raise another $ 11.25 m due to changes in natural gas prices .
Indian conglomerate Reliance has sold a US shale oil and gas asset for $126m. BKV Chelsea, an affiliate of energy investment company Kalnin Ventures, bought the block in the Marcellus shale in Pennsylvania. The price is just a third of the amount Reliance paid seven years ago. However, the Indian oil-to-telecoms giant said it could receive another $11.25m due to changes in natural gas prices.