Shell unit inks ‘Purchase Agreement’ to acquire Enspire Energy

Shell Energy North America, a subsidiary of Shell Oil Company, has entered into a purchase agreement to buy the assets of Enspire Energy, LLC, a Virginia-based energy marketing company that serves customers throughout the Mid-Atlantic United States.

The agreement is expected to be settled in the early portion of first quarter 2009, providing the completion of certain contractual requirements and the receipt of necessary regulatory approvals.

Shell Trading is a global business network integrating the worldwide energy trading activities of Royal Dutch Shell plc companies, of which Shell Energy North America (US), L.P., and its subsidiaries, are an integral part.

Headquartered in Houston, Texas Shell Energy provides a portfolio of energy-related products and services associated with wholesale natural gas and power marketing and trading in North America.

In addition, the firm also offers risk product marketing and management, and asset and supply portfolio management services.