M&A in the Natural Gas Sector

by Marilou Moursund on November 9, 2010

in Energy,M & A Activity

In a in December, Chevron is , or a total of $43.34 per share.  Atlas has holdings in the Marcellus Shale in southwestern Pennsylvania.  This deal highlights the attractiveness of domestic natural gas.

There has also been a lot of interest in the Eagle Ford Shale in south Texas.  There are a lot of mineral rights being bid up as well as outright purchases of land.  Here are some highlights from the Railroad Commission of Texas website:

  • The Eagle Ford Shale trends across Texas from the Mexican border in South Texas into East Texas, roughly 50 miles wide and 400 miles long.
  • It is Cretaceous in age resting between the Buda Lime and the Austin Chalk. It is the source rock for the Chalk and the giant East Texas Field.
  • Like the Barnett and Haynesville Shales, it has become an attractive target for hydrocarbon exploitation – made possible by the introduction of horizontal drilling and fracturing procedures.
  • Petrohawk drilled the first of the Eagle Ford wells in 2008, discovering in the process the Hawkville (Eagle Ford) Field in La Salle County (District 1). The discovery well flowed at a rate of 7.6 million cubic feet of gas per day from a 3,200 foot lateral (first perforation 11,141 feet total vertical depth) with 10 frac stages.
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