Royal Dutch Shell plans to sell its 106,000-acre stake in the Eagle Ford shale formation in South Texas, the Wall Street Journal reported on Sunday.
Shell's decision comes after it took a $2.2 billion charge against its U.S. shale business in August.
Major oil companies have struggled in oil-and-gas rich regions such as the Eagle Ford, where smaller energy firms have thrived. BG Group and BHP Billiton have also taken impairment charges against their U.S. shale assets.
Shell told the Journal that Eagle Ford holdings did not meet the company's targets for size and profitability.
The stake "offers a valuable growth opportunity for another experienced operator," Shell spokeswoman Kelly op de Weegh told the paper.
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Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.