Chevron to Buy Atlas Energy in Deal Worth $4.3 Billion

ChevronChevron (CVX) will buy Atlas Energy (ATN) for $3.2 billion cash and $1.1 billion of assumed net debt. Acquiring Atlas will give Chevron a greater presence in the Pennsylvania's Marcellus Shale natural-gas deposits.

Sponsored Links
"This acquisition is the right opportunity for Chevron," said George L. Kirkland, Chevron vice chairman. "We are acquiring a company that has one of the premier acreage positions in the prolific Marcellus."

Chevron will acquire Atlas Energy's estimated 9 trillion cubic feet of natural-gas resources. This includes about 850 billion cubic feet of proved natural-gas reserves and 80 million cubic feet of daily natural-gas production.

It is unclear when the deal, which is still subject to approval from Atlas Energy shareholders and regulators, will close.

Read Full Story
  • DJI25883.25443.861.74%
    NASDAQ7472.4145.460.61%
  • NIKKEI 22520900.63-239.08-1.13%
    Hang Seng27900.84-531.21-1.87%
    DAX11299.80210.011.89%
  • USD (PER EUR)1.13-0.0001-0.01%
    USD (PER CHF)1.000.00020.02%
    JPY (PER USD)110.530.02900.03%
    GBP (PER USD)1.290.01000.78%