Noble Energy, Consol JV In Marcellus

摘要

Noble Energy Inc., Houston, (NYSE: NBL) plans to enter a $3.4-bil]ion joint-venture partnership with Consol Energy Inc., Pittsburgh, (NYSE: CNX) to develop Consol's Marcellus shale properties in southwestern Pennsylvania and northwestern West Virginia. Noble Energy will purchase a 50% interest in 663,350 net undeveloped acres for $1.07 billion, fund $2.13 billion of Consol's future drilling and completion costs and acquire a 50% interest in 70 million cu. ft. equivalent per day of existing Marcellus production and infrastructure for $219 million.