Buchanan Ingersoll & Rooney's recent representation of Alpha Natural Resources, Inc. in its formation of a joint venture with Rice Energy LP, was cited by a number of media outlets on February 10, 2010. The Pittsburgh Business Times published an article, titled "Rice Energy, Alpha Natural Resources form joint venture," which reported on the deal. As well, more than 50 sources, including Oil & Gas Industry Today, Forbes.com, Health and Medicine Week, Reuters, WorldNews.com and AlphaTradeFinance.com, ran the original press release.
As reported by the Pittsburgh Business Times, "Alpha Natural Resources Inc., Abingdon, Va.-based coal producer, has formed a 50-50 joint venture with Rice Energy LP, Pittsburgh-based exploration and production company, to develop Marcellus Shale gas resources. Alpha controls nearly 20,000 acres near Pittsburgh. … Alpha and Rice each contributed cash and certain mineral and property interests to a newly formed partnership that will own and develop the assets. … Alpha was assisted on the transaction by Pittsburgh-based law firm Buchanan Ingersoll & Rooney PC."
Buchanan attorneys Amelia Konesni, Sean Moran, Robert Burns, Jason Wrona and Bruce Booken completed the transaction, which was announced in Alpha's earnings release that was issued February 9, 2010. Alpha's release indicated that the initial phase of development is underway, and that they are currently drilling the first of four wells planned for 2010.