One-Page Deal Sheet
Reliance Industries Joins Carrizo in Marcellus Development
Reliance Industries Limited Carrizo Oil & Gas Inc.
Announced Date
August 05,2010
Close Date
September 11,2010
Transaction Type
JV
Enterprise Value (EV)($MM)
392
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
Pennsylvania
Play
Calculated Metrics( EV/Category)
$/ Acre
$/Location
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Reliance Industries Ltd., Mumbai, has taken another step into US unconventional resource plays by entering a venture that envisions the drilling of 1,000 wells in the Marcellus shale fairway.
A subsidary, Reliance Marcellus II LLC, entered a joint venture with Carrizo Oil & Gas Inc., Houston, through which it will acquire a 60% interest in Marcellus shale acreage now held in a 50-50 joint venture of Carrizo and ACP II Marcellus LLC, an affiliate of Avista Capital Partners.
Paying a total of $392 million, Reliance will acquire 100% of Avista’s interest and 20% of Carrizo’s interest in the…
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