UGI, Tenaska Announce Joint Marcellus Shale Development Bid

Law360, Philadelphia (January 16, 2013, 4:21 PM EST) -- UGI Corp. and a subsidiary of energy company Tenaska Inc. announced Monday they were launching a venture to jointly develop natural gas resources in the Marcellus Shale of north-central Pennsylvania in a project that could see a total investment of nearly $65 million over 10 years.

Under the terms of the deal, which were announced in a joint statement from the companies, UGI Energy Services Inc. would construct 20 miles of new pipelines and compression equipment for wells that Tenaska Resources LLC plans to drill in...
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