Noble Energy is buying Consol Energy’s 50% stake in natural gas-producing Marcellus Shale fields in Pennsylvania and West Virginia for $3.4 billion. Noble will pay $1.07 billion for the property, payable in three equal installments, and fund $2.13 billion of future drilling.
At the expected closing of the deal on September 30, Noble will pay $219 million for a 50% stake in Consol’s existing Marcellus wells and gas-gathering assets, adds The Wall Street Journal. Jefferies served as the financial adviser to Consol on the deal.
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