Reliance makes third US shale gas field purchase in four months for $392 million
Indian energy firm Reliance has made its third investment in US shale gas production this year with a $392 million stake in a Marcellus, Pennsylvania, shale acreage joint venture with US-based Carrizo.
The firm will own 60% of the 104,400 acreage in Pennsylvania, buying out all of US-based private equity firm Avista Capital Partners' interest and 20% of Carrizo's interests.
This latest deal is considerably smaller than the two previous deals announced earlier in the year. Nonetheless, the speed
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