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

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