A team of attorneys from Buchanan Ingersoll & Rooney’s Energy Section, including shareholder Sean W. Moran, shareholder Carl Staiger and shareholder David Gould, were mentioned in a recent Law360 article about how the firm’s client EQT will purchase 99,000 acres and 10 Marcellus natural gas wells from Chesapeake Energy Corp. and its partners for $113 million.
The deal will close May 30, and EQT will buy 67,000 acres of Marcellus shale and 32,000 acres of dry Utica shale. Three of the Marcellus wells are already producing, and EQT intends to bring the remaining seven online by the end of the year. In late 2013, EQT also intends to drill four new wells on the acreage.
Read the full article – “EQT Pays $113M to Scoop Up Marcellus, Utica Lands” (Law360, May 3, 2013)