Reliance Industries Limited (RIL), India’s largest private company of any kind and an energy giant, made three investments two years ago in U.S. shale plays via joint ventures—two of them in the Marcellus and one in the Eagle Ford. The company said in a recent analyst presentation those investments are starting to pay off and they expect their shale gas volumes to grow at an annual rate of 50% by 2015. If it does, it will contribute 8-10% of RIL’s earnings. That’s a pretty big deal—from nothing to contributing 8-10% inside of five years for the largest company in India.
An update on RIL’s three U.S. shale joint ventures: