Article - 16 March 2010 Issue

Dominion offloads E&P business for $3.48 billion

Dominion Resources has agreed to sell its E&P business, including its acreage in the much hyped Marcellus Shale play, to Consol Energy for $3.48 billion. The company said its decision to exit the sector fits a long held strategy to monetise the Marcellus assets and will enhance the company’s core pipeline and storage business.

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