Joint ventures are a common way for oil and gas companies to share risk, expertise and resources. Here is a list of recent deals in the Marcellus shale:
> Noble Energy Inc. spent $3.4 billion in August 2011 for a 50% interest in 663,350 acres from CONSOL Energy Inc.
> Sumitomo Corp. spent $140.4 million in September 2010 for a joint venture on 12,900 net acres with Rex Energy Corp.
> Range Resources Corp. spent $25 million in July 2010 on a joint venture with Talisman Energy Inc. to develop 15,000 acres.
> India’s Reliance Industries spent $1.7 billion in April 2010 for a 40 percent interest in 300,000 acres from Atlas Energy Inc., which has since been acquired by Chevron Corp.
> Mitsui & Co. LTD spent $1.4 billion in March 2010 for a 32.5% stake in 306,000 non-producing acres from Anadarko Petroleum Corp.
> BG Group plc spent $950 million in January 2010 to share 654,000 acres — including 186,000 acres for Marcellus shale development — and pipelines and processing plants with EXCO Resources Inc.
> Williams Cos. Inc. spent $33 million in June 2009 for a 50 percent interest in about 44,000 acres from Rex Energy Corp.
> Statoil spent $3.38 billion in November 2008 for a 32.5% interest in 1.8 million acres from Chesapeake Energy Corp.*
*Pittsburgh Tribune-Review (Aug 19, 2011) – Deal with Consol gives Texas company stake in Marcellus shale