One-Page Deal Sheet
Newfield Exploration Purchases 50 Thousand Marcellus Shale Acres
Newfield Exploration Co. EOG Resources, Inc.
Announced Date
November 16,2010
Transaction Type
Property
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
Pennsylvania
Play
Calculated Metrics( EV/Category)
Transaction Details: Subscribe to see
Newfield Exploration Company today announced the signing of a purchase and sale agreement with EOG Resources, Inc., for approximately 50,000 net acres in the Marcellus Shale. Substantially all the acreage is located in Bradford County, Pennsylvania, in the Susquehanna River Basin. This transaction, valued at $405 million, will more than double Newfield's current acreage position in the Marcellus Shale and will provide a deep inventory of future development drilling locations. The closing is expected before year-end 2010 and is subject to customary terms and conditions.
Newfield plans to…
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