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Developing US Shale Plays: Marcellus—Marcellus development shows the seeds of a new gas paradigm

Stephen Bull, Commercial Leader, Statoil ASA

In November 2008, Statoil and Chesapeake Energy Corporation announced their $3.375 billion strategic alliance whereby Statoil acquired 32.5% of Chesapeake’s 1.8 million acres in the Marcellus fairway. In addition, the partners formed an international study group to assess shale gas opportunities outside of North America.

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