EOG Resources, Newfield Exploration terminate Marcellus shale gas deal

摘要

EOG Resources and Newfield Exploration have agreed to terminate a $405 million deal announced in November for the sale of 50,000 of EOG's acres in the Marcellus shale in Pennsylvania. The companies gave no reason for the decision. Texas-based EOG said in November that it would sell the acreage which would have more than doubled Newfield's Marcellus shale assets (see Gas Matters Today, November 16). Gross production is about 7 MMcf/d from five wells. Newfield said it would operate two rigs in the acreage and invest about $100 million in 2011.