Range Finds Barnett Shale Buyer, Turns Attention to the Marcellus

摘要

Range Resources has reached an agreement to sell its Barnett Shale assets to privately held Legend Natural Gas IV for $900 million. The move highlights the growing influence of private equity dollars in shale gas plays. Legend is backed by private equity firm Riverstone Holdings and, although it will become operator of the assets, is likely to ultimately look for ways to increase the value of the properties then resell them for a higher price down the line.