Sunoco Looking to Invest in Marcellus & Utica Midstream
Sunoco is getting out of the refinery business by July of next year and is instead looking to expand its investment in midstream businesses, including pipelines, terminals and storage, in addition to its retail outlets. Sunoco is particularly interested in opportunities in the Marcellus and Utica Shales.
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Rex Energy has just completed drilling and fracking its first horizontal Utica Shale well in western Pennsylvania and plans to bring it online once a gathering pipeline to the well is completed in January.