Shell Taps Shale With $4.7 Billion East Resources Buy
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Royal Dutch Shell Plc, Europe’s largest energy producer, agreed to buy most of closely held East Resources Inc. for $4.7 billion in cash, expanding its holdings of U.S. shale gas deposits.
As part of the deal, Shell will obtain new positions in “high potential” U.S. shale gas acreage, in the Marcellus and Eagle Ford plays, according to a statement today. The sale is expected to be completed in two phases starting from the summer.