Gas for $700m

Gas for $700m

TRANSOK, AN Oklahoma-based gas affiliate of Shell Oil in the US, has been sold to Enogex for $700m, Shell said yesterday. Enogex, a unit of OGE Energy, will assume $173m of long-term debt.

The sale was part of the restructuring of Shell Oil's downstream portfolio in the US and would allow it to concentrate on core operations in the Gulf Coast region, the group said.