Law360, New York (September 26, 2011, 8:33 PM ET) -- Consol Energy Inc. said Monday that it would give Antero Resources Appalachian Corp. a roughly 7 percent royalty interest in 115,647 net acres of the Marcellus Shale in Pennsylvania and West Virginia for $193 million.
Canonsburg, Pa.-based Consol said that it acquired the overriding royalty interests as part of its $3.5 billion acquisition of Dominion Resources Inc.'s Appalachian exploration and production business in April 2010. Under that deal, Consol scored the rights to develop nearly 500,000 acres in the Marcellus Shale.
Consol added that the asset...
Akin Gump Reps Consol In $193M Marcellus Shale Deal
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