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    East Resources closes Utica and Marcellus divestitures

    East Resources Inc.

    East Resources Inc. (ERI) has closed on agreements, along with an unnamed joint venture partner, to divest 27,000 net acres of leasehold, 56 MMCFPD from nine producing wells, 14 miles of 12-inch pipeline and related infrastructure, including an existing tap on a Spectra transmission line, all located in Monroe County, Ohio, to American Energy – Utica LLC (AEU), an affiliate of American Energy Partners LP (AELP).  

    In a separate transaction, ERI and a separate AELP platform company, American Energy – Marcellus LLC (AEM), closed on agreements selling 48,000 net acres of leasehold, 107 MMCFED from 24 producing wells, 10 miles of 16-inch pipeline and related infrastructure, and two pipeline taps into Dominion and Williams transmission lines, all in Doddridge, Harrison, Marion, Tyler and Wetzel counties, West Virginia, to AEM.  

    The combined acquisition price of the transactions is $1.75 billion. Jefferies LLC acted as financial advisor to ERI. Baker Botts LLP and Kirkland & Ellis LP acted as legal advisors to ERI. 

     

     

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