The Michigan asset sale is part of the previously announced target of some $2 billion in annual average divestments from the businesses within the Royal Dutch/Shell Group of Companies.

Shell sold Merit about 500 wells that are currently producing around 3,650bopd and 53.7 million cubic feet of natural gas from 36 central producing areas and two gas processing plants.

Shell has been shedding onshore and offshore assets with its most recent previous sale in July when Apache Corp. and Morgan Stanley bought several Gulf of Mexico oil and gas properties for $500 million.

The wells are located south and east of the Traverse City area and the deal is expected to close by early December.