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    Mitsui Sells Partial Stake in Marcellus Shale Gas Project for $207mn

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Summary

Mitsui’s US subsidiary, Mitsui E&P USA, has agreed to sell its stake in in the Marcellus shale gas project for $207mn to Alta Resources Development.

by: Shardul Sharma

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Natural Gas & LNG News, Asia/Oceania, Shale Gas , News By Country, Japan

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Mitsui Sells Partial Stake in Marcellus Shale Gas Project for $207mn

Mitsui’s US subsidiary, Mitsui E&P USA, has agreed to sell its stake in in the Marcellus shale gas project for $207mn to Alta Resources Development, the company said December 22. Mitsui has 74.26% stake in Mitsui E&P USA.  

Mitsui said the sale "will enable Mitsui E&P USA to focus its future investment into the more productive area where it will retain its working interest, improve its profitability and contribute to enhancing the value of Mitsui's portfolio."  

Mitsui E&P USA’s share of current daily production in the area to be sold is about 70mn ft³, about a fifth of its total daily production in the overall Marcellus shale gas project.

 

Shardul Sharma

 

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