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Atlas, Reliance To Buy 42,344 More Acres Of Marcellus Shale For $192 Million
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Reuters news agency reported this week Atlas Energy Inc. and its partner Reliance Industries will buy 42,344 more acres in the Marcellus Shale at a cost of nearly $192 million.
The new acreage is in Fayette, Washington, Indiana, Westmoreland, Armstrong and Clarion counties. The company said it should be able to drill 450 additional wells on the property.
Earlier in April, Reliance said it would pay Atlas $1.7 billion to buy a 40 percent stake in Atlas's Marcellus Shale operations.
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4/26/2010 |
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