Pennsylvania's Shale Gas Deals Reach $882 Million in First Quarter of 2013
The Pittsburgh Post-Gazette reports mergers, acquisitions, and partnerships across Pennsylvania’s Marcellus and Utica shales in first quarter of 2013 are on pace with last year’s growth, according to a new analysis by the firm PwC:
The report found three transactions totaling $882 million in the first three months of the year related to development in Pennsylvania’s Marcellus Shale gas fields, about the same amount spent during the same quarter one year ago. The analysis studied energy mergers and transactions nationwide worth more than $50 million.
Those deals can include acquisitions, investments or partnerships that allow companies to split the costs associated with oil and gas development.
In March, an analysis by the firm IHS found that the Marcellus gas play was outpacing the Haynesville shale play (located under parts of northwestern Louisiana, eastern Texas and southwestern Arkansas) to become the largest gas producing play in the country.