Marubeni Acquires Stake in U.S. Shale Project

Marubeni (Tokyo) says it has entered into an agreement with energy company Hunt Oil (Dallas, TX), to acquire a 35% stake in the Eagle Ford shale oil and gas play covering about 52,000 net acres of oil and gas leases located in Texas. The project has plans for several hundred wells to be sequentially drilled for 5 years–10 years, with total development costs, including acquisition costs for Marubeni’s share, of about $1.3 billion, Marubeni says. Marubeni and Hunt Oil have also agreed to jointly acquire additional acreage in the Eagle Ford shale oil and...

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