Endeavour to Acquire Marcellus Shale Assets in Pennsylvania

Endeavour International is to buy Marcellus Shale assets in north-central Pennsylvania, US, along with a pipeline and related facilities owned by SM Energy and its partners for $110m.

The assets include a 202km² area with 100% operated working interests in McKean and Potter counties, and production from three existing wells, which produce approximately four million cubic metres of natural gas per day, including the Potato Creek #3H well.

The assets also include 100% ownership of Potato Creek, which owns a midstream gathering system and related facilities in southern McKean County.

On completion of the transaction, Endeavour’s total leasehold interests in Marcellus Shale will cover an area of 275km².