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RIL had acquired two shale gas assets in the US in the last couple of months, and this should not have surprised anyone.

There is currently a shale gas mania, with analysts predicting that shale gas based natural gas could become the leading energy component in the US and perhaps in countries like India too, in a decade from now.

Reliance obviously is not the first to make major acquisitions in this area.

Dec 2009 – ExxonMobil bought shale gas assets of XTO Energy for $30 billion

Jan 2010 – French oil company Total SA shale assets from Chesapeake Energy for $2.6 billion

Apr 2010 – Reliance bought 40% stake in Atlas Energy’s shale gas field for $1.7 billion

May 2010 – Royal Dutch Shell bought a majority stake in East Resources for $4.7 billion

June 2010 – Reliance buys a stake in Pioneer Natural Resources for $1.35 billion

The shale gas acquisitions is likely to continue for a while…expect ONGC to get into the play soon too (just my guess, don’t read between words!)