Law360, New York (April 12, 2010, 3:11 PM ET) -- Atlas Energy Inc. revealed Friday that it had entered into a $1.7 billion joint venture with India's Reliance Industries Ltd. that will see the Pittsburgh-based energy company transfer its interest in the booming Marcellus Shale natural gas project.
Under the terms of the deal, Mumbai-based Reliance will fork over about $340 million in cash on closing and an additional $1.36 billion in the form of a drilling carry, the companies said in a statement.
Atlas — which owns about 300,000 net acres in the Marcellus Shale,...
Jones Day, Wachtell Rep Atlas In $1.7B Reliance Deal
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