According to a recent Reuters article, Reliance Industries may jointly develop Atlas Energy’s Marcellus Shale gas project through a joint venture.
UPDATE: Reliance Said to Be in Talks to Buy Atlas Shale Asset
Atlas Energy has oil and gas leases on approximately 519,000 acres in the Marcelluss Shale. Most of the leases are located in the southwestern Pennsylvania, of which 266,000 are in core drilling areas. The company has drilled approximately 180 vertical wells and 18 horizontal wells within this area. Furthermore, Atlas has stated that it has identified over 3,150 horizontal Marcellus Shale drilling locations on its acreage.
The Marcellus Shale holds vast amounts of gas reserves and has recently become a very hot play within the oil and gas community.
For more information on these companies, please visit their websites:
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