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Chemical Week Magazine :: Business & Finance :: United States/Americas
Reliance Eyes Marcellus Shale JV
8:31 AM MDT | March 26, 2010
Reliance Industries may be looking to form a joint venture with Atlas Energy (Moon Township, PA) to develop the companyâ€™s gas operations at Marcellus Shale, a formation under Pennsylvania, West Virginia, and parts of New York. The move follows Relianceâ€™s failed attempts to purchase a controlling stake in LyondellBasell. Reliance recently raised about $2 billion through several share sales, creating a war chest that could be used to finance the jv with Atlas, sources say. Atlas controls a total of 519,000 acres in the Marcellus Shale formation, and 266,000 of...
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