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RIL Arm To Sell Entire Stake In Some Upstream Assets In Marcellus Shale Play

These assets, which are currently operated by various affiliates of EQT Corporation, have been sold to Northern Oil and Gas

Delaware , United-states , Pennsylvania , Gibson , Dunn-crutcher , Citigroup-global-markets-inc , Northern-oil , Northern-oil-on , Reliance-industries , Reliance-marcellus , Global-markets

Reliance sells some Marcellus shale assets in the US for $250 million

Reliance sells some Marcellus shale assets in the US for $250 million
© Rakesh Patil
Reliance sells some Marcellus shale assets in the US for $250 million
Reliance Marcellus, a wholly-owned subsidiary of Reliance Industries (RIL), will sell its entire stake in certain upstream assets in the Marcellus shale play of south-western Pennsylvania for $250 million.
These assets, which are currently operated by various affiliates of EQT Corporation, have been sold to Northern Oil and Gas, a Delaware corporation, for a consideration of $250 million cash and warrants that give entitlement to purchase 3.25 million common shares of Northern Oil at an exercise price of $14.00 per common share in next seven years.

Delaware , United-states , Pennsylvania , Reliance-industries-ltd , Gibson , Media-investments-ltd , Northern-oil , Northern-oil-on , Dunn-crutcher , Citigroup-global-markets-inc , Reliance-industries