Last week Williams acquired approximately 42,000 net acres from Alta Resources for $501 million and has committed to lease 8,000 net acres in the Marcellus shale. This additional acreage will bring their total acreage in the play to 94,000 acres. The 42,000 acquired acres have an estimated 1.2 Tcfe in total net reserves and is primarily located in Susquehanna Co., PA. The company expects to invest an additional $55 million 2010 in operation costs including drilling, completions, seismic, etc…
“This acquisition establishes Williams with a significant concentrated acreage position in what we believe is the highest resource potential area of the Marcellus,“ states Ralph Hill, president of Williams’ E&P business. “This is our largest Marcellus acquisition to date – and for good reason.”
The following is a map of permits within the last 365 days in Susquehanna Co., PA. We get an idea of the location of the acquired acreage.
To get more information visit the Williams Folder in the Unconventional Updates in DI’s DNA.
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