May 3 Natural gas company EQT Corp said
it would buy some properties in Marcellus and Utica shale fields
in Pennsylvania, including 10 wells, from Chesapeake Energy Corp
for $113 mln.
The transaction, expected to close on May 30, involves
99,000 net acres in southwestern Pennsylvania, including 67,000
acres in Marcellus, EQT said.
The company said it was buying three producing wells in
Marcellus, and the rest would be on stream by the end of this
year, adding about 1 billion cubic feet equivalent (Bcfe) of
Chesapeake plans to focus on drilling in areas it
characterizes as "core", including the Eagle Ford in south
Texas. The company is marketing acreage in the Marcellus and
Utica formations in Pennsylvania and Ohio.