Alta Resources Makes 2 Marcellus Shale Plays Worth $1.44B

Law360, New York (December 22, 2016, 6:12 PM EST) -- Privately held shale oil and gas exploration company Alta Resources Development LLC expanded its reach in North Central Pennsylvania's Marcellus Shale region this week, grabbing $1.44 billion in natural gas assets from Anadarko Petroleum Corp. and a Mitsui & Co. Ltd. subsidiary.

On Wednesday, Alta's Marcellus Development subsidiary bought Anadarko's operated and non-operated upstream assets and its operated midstream assets in the region for $1.24 billion, Anadarko said in a statement.

The assets encompass 195,000 net acres, producing 470 million cubic feet per day in sales volume, according to the statement. However, the assets owned by Western Gas Partners LP, a...

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