Marubeni Unit Buys Minority Stake In Oil Field From Hunt

Law360, New York (January 6, 2012, 12:29 PM EST) -- A U.S. energy subsidiary of Japanese trading house Marubeni Corp. has acquired a minority stake in an oil and gas venture in Texas from Hunt Oil Co., Marubeni announced Friday.

Marubeni said subsidiary Marubeni Eagle Ford Limited Partnership has reached an agreement with Dallas-based Hunt to acquire a 35 percent working interest in Hunt's Eagle Ford shale play in south Texas. The project includes roughly 52,000 net acres of oil and gas leases and has total expected development costs of $1.3 billion.

Financial terms of the...
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