Marubeni in $1.3 Billion US Shale Deal

Marubeni Corporation has entered into an agreement with Dallas based Hunt Oil Company to acquire a 35% working interest in the Eagle Ford shale oil and gas acreage.

The play covers approximately 52,000 net acres of oil and gas leases located in Texas, the company said in a statement Friday.

The project has plans for several hundred wells to be sequentially drilled for 5 – 10 years, with total development costs of approximately $ 1.3 billion.