One-Page Deal Sheet
CONSOL Picks Up Marcellus Gas Rights; Noble Exercises 50% Participation Right
Consol Energy Inc., Noble Energy, Inc. Dominion Resources, Inc.
Announced Date
December 10,2013
Close Date
December 10,2013
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
190
Asset/Basin:
{"Appalachian Basin","Marcellus Shale"}
TargetZones:
{"Marcellus Shale","
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
West Virginia
Play
Calculated Metrics( EV/Category)
$/ Acre
$/Location
Transaction Details: Subscribe to see
CONSOL Energy Inc. has acquired the gas rights to both the Marcellus Shale and the Upper Devonian formations in the storage fields.
A total gross consideration of up to $190 million will be paid in two installments – approximately 50% paid at closing last week, with the balance due over time as the acres are drilled. CONSOL has also committed to be an anchor shipper on Dominion's transmission system.
J. Brett Harvey, chairman and CEO, commented: "This transaction reinforces CONSOL Energy's commitment to being a leading natural gas producer in the Appalachian Basin. These parcels represent…
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