Chevron buys Marcellus shale deposit owner Atlas Energy (BBC)

[eppur_se_muova]

US energy giant Chevron has agreed to buy Atlas Energy for $4.3bn (£2.7bn).

Atlas owns a 60% stake in a joint venture with India's Reliance Industries to exploit the Marcellus shale gas deposit in Pennsylvania

It means Chevron has chosen to follow ExxonMobil and Shell, by entering the burgeoning US industry for shale - a rock deposit that produces natural gas.

Chevron will pay $3.2bn in cash and its own stock, and will also take over $1.1bn of Atlas' debts.

Atlas shareholders will receive a package worth $43.34 per share - a 37% premium to Monday's closing price.
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more: http://www.bbc.co.uk/news/business-11719414




No rest for the greedy, or something like that.