Marubeni Nabs Hunt Stake in Eagle Ford

摘要

Japanese trading house Marubeni said Friday it has entered into a $1.3 billion agreement to acquire a 35% stake in Hunt Oil’s oil and gas acreage in the Eagle Ford shale play in South Texas, marking the latest deal involving an Asian company in North America’s booming unconventional oil and gas sector. The assets include around 52,000 net acres of oil and gas leases, and a development plan has been lined up for several hundred wells to be drilled over the next 5-10 years. The $1.3 billion price tag includes the acquisition cost of Marubeni’s share as well as future drilling costs.