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Noble To Buy Consol’s $3.4B Gas Field Stake

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 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.

Click here for the release from PR Newswire.

Click here for additional coverage from The Wall Street Journal.

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