Williams, Rex team up on Marcellus drilling; Continued expansion for Williams in shale gas play

摘要

Washington-In what is becoming a common business arrangement, Williams has bought a 50% stake in a small player's Marcellus Shale gas holdings by promising to pay the bulk of initial operating costs up front. Independent producer Rex Energy said June 22 it would sell 50% of its interest in 44,000 net acres of Marcellus leasehold in central and western Pennsylvania for $33 million and an agreement by Williams to pay 90% of drilling costs up to $74 million.