One-Page Deal Sheet
Williams Adds to Marcellus Shale Presence with Acreage Agreement
Williams Companies, Inc. Rex Energy Corp
Announced Date
June 22,2009
Close Date
June 22,2009
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
33
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
Pennsylvania
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Williams (NYSE: WMB) announced today that it has signed a participation and exploration agreement to develop natural gas wells in the Marcellus Shale with Rex Energy Corporation (Nasdaq: REXX).
Under the agreement, Williams is acquiring a 50-percent interest in approximately 44,000 net acres in Pennsylvania's Westmoreland, Clearfield and Centre counties for $33 million in a "drill to earn" structure.
Williams will drill to earn its 50-percent interest by incurring 90 percent of costs and expenses associated with drilling and completion of wells in the area of mutual interest until it has…
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