In early May Shell and National Fuel Gas Company (NFG) announced a deal for Shell to sell all of its remaining Appalachian assets, which includes 450,000 acres and some 350 producing M-U shale wells along with pipeline assets, to NFG for $541 million (see Fire Sale: Shell Sells All Remaining PA M-U Assets for $541M). The deal is expected to close by the end of July. Most of the assets are located in Tioga County, PA. Folks in Tioga County are excited that NFG (via its drilling subsidiary Seneca Resources) will soon ramp up drilling on the Shell acreage. The county is rolling out the red carpet.
