Deals - Joint Ventures | Top Story | Production Rates | Drilled Uncomplete (DUC)
Consol, Noble End Marcellus Joint Venture
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CONSOL Energy and Noble Energy are separating their Marcellus Shale 50-50 Joint Venture.
The Joint Venture was formed in 2011 for exploration, development, and operation of primarily Marcellus Shale properties in Pennsylvania and West Virginia.
Prior to the Exchange Agreement, the Joint Venture collectively operated ~669,000 Marcellus acres. CONSOL Energy and Noble Energy, Inc. each held 50% working interest. As of October 1, 2016, total flowing production to the JV was 1.07 BCFE/D DUC Inventory After Closing: Carry Obligation:Noble's $1.6 Billion conditional carry obligation will no longer be required.
Source CONSOL Energy
After the split: CONSOL Energy Will operate a 100% working interest in ~306,000 Marcellus acres, majority in PA production of ~620 MMCFE/D Noble Energy…- ✓ Full news archive — U.S., Canada & international coverage
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