National Fuel Gas, a diversified energy company, completed the acquisition of Shell's Appalachian assets for $541m. "Divesting our Appalachia position is consistent with our desire to focus our Shales portfolio. While we maximize cash in the current environment, our drive for a competitive position in Shales continues. It is a core part of our Upstream portfolio along with the Deep Water and Conventional oil and gas businesses," Wael Sawan, Shell Upstream Director.