2 Major Moves on Marcellus
Toby Shute submits:
The Marcellus continues to mesmerize aspiring shale players. We’ve seen Statoil team up with Chesapeake Energy (NYSE: CHK), Williams (NYSE: WMB) join up with Rex Energy, and Mitsui & Co. partner with Anadarko Petroleum (NYSE: APC). Even ExxonMobil (NYSE: XOM) has set up stakes in the Appalachian natural gas play.
Supporting my thesis that Asia’s shale gas appetite is growing, India’s Reliance Industries was said to be in talks with Atlas Energy (Nasdaq: ATLS) about a billion-dollar Marcellus joint venture. We’ll have more to say on that one once a deal actually materializes. For now, CONSOL Energy (NYSE: CNX) remains in the spotlight.
Investing, Long Term Investment, stock market | admin March 23, 2010
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