Shell divests U.S. onshore gas assets in Pinedale and Hanesville, adds acreage in Marcellus and Utica

HOUSTON, 14 August 2014 - Royal Dutch Shell plc ("Shell") announces today two
separate transactions whereby the company will exit its Pinedale and Haynesville
onshore gas assets in exchange for approximately $2.1 billion of cash, plus
additional acreage in the Marcellus and Utica Shale areas in Pennsylvania.

In one agreement with Ultra Petroleum, Shell will acquire 155,000 net acres in
the Marcellus and Utica Shale areas in Pennsylvania and receive a cash payment
of $0.925 billion from Ultra in exchange for 100 percent of Shell's Pinedale
asset in Wyoming, including associated gathering and processing contracts,
subject to closing.

In a separate agreement with Vine Oil & Gas LP and its partner Blackstone, Shell
has agreed to sell 100 percent of its Haynesville asset in Louisiana, including
associated field facilities and infrastructure for $1.2 billion in cash, subject
to closing.

"We continue to restructure and focus our North America shale oil and gas
portfolio to deliver the most value in the longer term. With this announcement
we are adding highly attractive exploration acreage, where we have impressive
well results in the Utica, and divesting our more mature, Pinedale and
Haynesville dry gas positions," said Marvin Odum, Shell's Upstream Americas
Director.

The Shell net production from Pinedale in the second quarter 2014 was 190
million standard cubic feet per day (mmscf/d) of dry gas (32 thousand barrels of
oil equivalent per day (kboe/d)). During the first half of 2014, Ultra's net
production from the assets Shell is acquiring in Pennsylvania averaged 109
mmscf/d (19 kboe/d).

"We first entered the Pinedale Anticline in 2001, and I am proud of our
operational excellence, community engagement, and leadership in responsible
energy development over that time," said Odum.

Shell's Pinedale asset (which includes 19,000 net acres of leasehold interest,
1,108 gross wells and associated facilities, and an average of 0.7 percent
overriding royalty interest in 11,500 acres) will be exchanged for cash and
Ultra's 100 percent interest in the Marshlands area (63,000 net acres) as well
as its entire interest (92,000 net acres) in the Tioga Area of Mutual Interest
(AMI), an unincorporated joint venture with Shell. After completion of this
transaction, Shell will have a 100 percent interest in the Tioga AMI. The
agreement is effective 1 April 2014, and is expected to close this year.

Shell's Haynesville asset includes 107,000 net acres in in north Louisiana. The
transaction includes 418 producing wells, 193 of them operated by Shell. As of
1 July 2014, the gross production from the Haynesville asset was approximately
700 mmscf/d of dry gas, with Shell's net working interest share at approximately
250 mmscf/d (43 kboe/d). The agreement is effective 1 July 2014, and is expected
to close in the fourth quarter of this year.

"We very much appreciate the support we have had in north Louisiana, and we will
continue to operate in the state, as we have for decades, through our
downstream, retail, midstream, and New Orleans-based deep-water operations,"
said Odum.


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