Acquisitions & Divestitures

Seaspin Pty Ltd. has retained Madison Williams to sell an option to participate in more than 150,000 acres in the Marcellus shale in northeastern Pennsylvania.

The package includes a 3.375% interest representing approximately 5,300 net acres in Bradford, Columbia, Lycoming, Sullivan, Susquehanna and Wyoming counties. Partners in the acreage underlying Seaspin’s working interest option are large and experienced shale gas operators.

On 80-acre spacing the opportunity provides a 66 net well interest. Assuming 3.5 billion cubic feet equivalent estimated ultimate recovery per well, the opportunity provides reserve potential of approximately ...