Eni, Quicksilver Team Up In West Texas Shale Oil Venture

Law360, New York (November 6, 2013, 2:27 PM EST) -- Eni SpA has inked a deal with Quicksilver Resources Inc. to explore and develop jointly approximately 52,500 acres of shale oil reservoirs held by Quicksilver in West Texas, the oil and gas companies said Tuesday.

Milan-based Eni said it will pay up to $52 million to cover the drilling, completion and seismic costs in exchange for a 50 percent stake in the oil patch. Following this initial investment, Quicksilver and Eni will share any future expenditure, according to Eni.

“This new project gives Eni the opportunity of...
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