Repsol has bought Pennsylvanian assets from Rockdale Marcellus
Repsol buys Pennsylvanian shale producer
Acquisition of Rockdale Marcellus is part of the Spanish firm’s strategic plan
Spanish oil company Repsol has bought bankrupt US shale producer Rockdale Marcellus for $222mn. The US firm owns 100pc of its west Pennsylvanian operations, which were producing c.110mn ft³/d (3.11mn m³/d) of gas as of March of last year. The company’s 48,000-acre plot is contiguous but stretches across the counties of Tioga, Bradford and Lycoming. Rockdale Marcellus filed for Chapter 11 bankruptcy in September last year. Repsol says the acquisition is “one of 14 key projects” in its 2021-2025 strategic plan and allows the company to add value to its existing and adjacent positions in the “prolific” dry gas portion of the Marcellus shale formation. There is also the potential to expand oper
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
