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Reliance Forms Another U.S. Shale Joint Venture

10:12 PM MDT | August 4, 2010 | Deepti Ramesh

Reliance Industries says its Reliance Marcellus subsidiary has signed definitive agreements to enter into a Marcellus Shale joint venture with energy company Carrizo Oil & Gas (Houston, TX). Reliance will acquire a 60% interest in Marcellus Shale acreage in central and northeast Pennsylvania that is currently held in a 50-50 jv between Carrizo and ACP II Marcellus (Houston), an affiliate of Avista Capital Partners (New York), under the deal. Reliance will acquire 100% of Avista’s interest and 20% of Carrizo’s interest in the jv. Following the...

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