One-Page Deal Sheet
Seneca Resources Acquires Marcellus Acreage From EOG Resources
National Fuel Gas Co., Seneca Resources EOG Resources, Inc.
Announced Date
January 10,2011
Close Date
January 11,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
23
Asset/Basin:
{Marcellus}
TargetZones:
{"Marcellus Shale"}
Transaction Details: Subscribe to see
Seneca Resources Corporation , a wholly owned subsidiary of National Fuel Gas Company , today announced its acquisition of oil and gas properties in the Covington Township area of Tioga County, Pa., from EOG Resources, Inc. ("EOG") for a purchase price of $23 million. The properties are producing natural gas from the Marcellus Shale and are also prospective for additional Marcellus reserves.
EOG had contributed this acreage to the Marcellus joint venture between Seneca and EOG that was formed in 2006. Seneca has been the operating partner on this portion of the joint venture acreage and has…
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