The fields include all of Shell’s gas-producing properties and related assets in South Texas, where the company first drilled wells in 1953.
The fields are predominately mature tight gas fields which currently produce some 200 million cubic feet of gas equivalent per day.
The transaction is expected to close in early 2011, subject to regulatory approvals.
Shell said that the acreage recently acquired by it in the Eagle Ford shale in Texas is not part of the transaction.
Earlier this year, Shell acquired the Eagle Ford acreage and East Resources, a private company with significant acreage in the Marcellus shale in the eastern US.
Shell Upstream Americas director Marvin Odum said that this sale helps move the company towards its goal of divesting $7bn to $8bn in assets worldwide in 2010 and 2011, and rationalizing its North American portfolio following on from recent acquisitions there.
