W. Pa.’s Consol Energy in $193M Marcellus deal

Posted: September 26, 2011

CANONSBURG, Pa. - Consol Energy Inc. says it has sold a $193 million stake in its Marcellus Shale holdings in southwestern Pennsylvania and West Virginia.

Consol, based in Canonsburg, announced the deal with Antero Resources Appalachian Corp. of Denver on Monday. Antero will receive royalty interests of approximately 7 percent in 115,647 acres located in nine counties.

Consol says the cash transaction has an effective date of July 1, 2011.

Consol will retain existing shallow wells and all other leasehold interests on the acreage, including geological formations generally above and below the Marcellus Shale.

The Marcellus is a gas-rich formation that lies under much of Pennsylvania and parts of New York, Ohio, West Virginia and Maryland.

|
|
|
|
|