CONSOL to buy Dominion's Appalachian Basin E&P business for US$3.48 billion
CONSOL Energy has announced the acquisition of Dominion's Appalachian Basin E&P business. This is the latest deal in a wave of M&A activity focused on US shale gas opportunities. The assets acquired comprise wells producing from conventional gas zones and a sizeable, albeit undeveloped, Marcellus Shale acreage position. CONSOL estimates the transaction provides a resource base of between 12.1 and 34 tcfe. The agreed consideration is US$3.475 billion, to be paid in cash at ...