Acquisitions & Divestitures

Spain’s Repsol to Buy Rockdale Marcellus Assets in $222 Million Bankruptcy Sale

Rockdale Marcellus, which filed for bankruptcy in September, was formed with the acquisition of Shell’s operated Marcellus properties in Tioga, Lycoming and Bradford counties in Pennsylvania.

Reuters

Wed, 01/05/2022 - 04:25 AM

Spain’s Repsol has bought shale oil and gas assets from U.S. firm Rockdale Marcellus for $222 million, a company spokesperson said, confirming a report from Marketline.

Repsol will pay $220 million in cash and assume an additional $2 million in debt, he said. The assets were sold by Rockdale Marcellus as part of a Chapter 11 process.

The assets are located near an area in Pennsylvania where Repsol already operates a shale field.

Sign up for FREE access to view this article now!

Unlock Free Access

In this article

Chart reflects yearly performance.

Recommended Reading

Woodside, Commonwealth LNG Ink Agreement to Negotiate Louisiana Plant Supply Deal

In the agreement, Woodside contemplates the purchase of 2 million tonnes per annum of LNG over a period of 20 years.

Oil Highest Since 2014 as Turkey Outage Adds to Tight Supply Outlook

U.S. West Texas Intermediate crude futures climbed 66 cents, or 0.8%, to $86.09 a barrel. WTI earlier jumped to $87.08, its highest since Oct. 9, 2014.

IEA: Oil Market Headed for Surplus as Omicron Impact Muted

While U.S., Canada and Brazil are set to pump at all-time highs for the year, Saudi Arabia and Russia could also break their output records.