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A&D - NFG buys Shell’s Appalachia for $541MM in largest YTD deal - May 2020
In the largest transaction of its 119-year history, New York-based integrated energy company National Fuel Gas is acquiring Shell’s upstream and midstream assets in the Appalachian Basin for $541 million. NFG said the deal will boost E&P unit Seneca Resources’ proved reserves by 23%, gas output by 36% and Appalachian acreage by 52%. It’s also the largest new US upstream deal announced in 2020. “Strategically, this transaction is a perfect fit for National Fuel,”......
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