RMLLC Signs Agreement for the Sale Assets in Marcellus Shale Pay

Source: www.gulfoilandgas.com 2/4/2021, Location: North America

Reliance Marcellus, LLC (“RMLLC”) a wholly owned subsidiary of Reliance Industries Limited (“RIL”), announced the signing of agreements to divest all of its interest in certain upstream assets in the Marcellus shale play of southwestern Pennsylvania. These assets, which are currently operated by various affiliates of EQT Corporation (“EQT”), have been agreed to be sold to Northern Oil and Gas, Inc (“NOG”), a Delaware corporation, for a consideration of $250 million cash and warrants that give entitlement to purchase 3.25 million common shares of NOG at an exercise price of $14.00 per common share in next seven years. A Purchase and Sale Agreement (“PSA”) has been signed between RMLLC and NOG on February 3, 2021 for this sale and the transaction is subject to customary terms and conditions of closing.

Citigroup Global Markets, Inc. acted as financial advisor to Reliance and Gibson, Dunn & Crutcher LLP served as its legal counsel.


Turkey >>  4/15/2021 -  Valeura Energy Inc. (VLU) (“Valeura”) has agreed with TBNG Limited (the “Buyer”) to amend the long stop date (the “Outside Date”) for the completion ...
Australia >>  4/14/2021 - FAR Limited has received the accompanying letter from Remus Horizons advising its intention to make a takeover offer for FAR shares at 2.1 cents per s...

Australia >>  4/14/2021 - Empire Energy has signed a binding Sale and Purchase Agreement with Pangaea (NT) Pty Ltd as trustee of the Pangaea (NT) Unit Trust to acquire Pangaea’...
Netherlands/Holland >>  4/14/2021 - Kistos, the AIM quoted closed-ended investment company which has been established with the objective of creating value for its investors through acqui...

India >>  4/13/2021 - Oilex has announced that all necessary approvals from the Government of India (GoI) for the sale of its Participating Interest (PI) in the Bhandut PSC...
United Arab Emirates >>  4/13/2021 - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC), has announced the acquisiti...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.