EQT, Chesapeake Interested in Buying M-U Driller Alta Resources

We don’t write much about Alta Resources, a shale drilling company co-founded by the inventor of shale fracking, George Mitchell. But that doesn’t mean Alta doesn’t drill in the Marcellus. In 2020 Alta was in the Top 10 PA drillers list (see Top 10 Shale Drillers in PA for 2020, by Number of Wells Drilled). Alta owns some 547,000 gross (239,000 net) acres producing natural gas from approximately 900 wells in the Marcellus Shale across Bradford, Wyoming, Sullivan, Lycoming, Clinton, and Centre counties in northeast Pennsylvania. In February we told you that Alta is shopping all of their considerable Marcellus assets, looking for a buyer (see Alta Resources Shopping 547K Marcellus Acres, Asking $3B). Looks like EQT and Chesapeake Energy have both been creepin' 'round Alta's back stairs...

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