Marcellus Driller Arsenal to Explore $1.5 Billion Sale

Arsenal Resources, a closely held natural gas explorer in the Marcellus Basin, is exploring options including a potential sale that could fetch close to $1.5 billion, according to people familiar with the matter.

The driller, which emerged from bankruptcy in 2019 and is still owned by its creditors, is working with financial advisers to seek a potential buyer, said the people, asking not to be identified because the details are private.