Atlas Energy acquires over 42,000 additional acres in the core Marcellus Shale with Reliance
Clients Atlas Energy, Inc.
Jones Day represented Atlas Energy, Inc. and Atlas Energy Resources, LLC (collectively, "Atlas") in the acquisition, through a series of transactions, of 42,344 acres in the Marcellus Shale in Pennsylvania for a total purchase price of approximately $190 million. This acreage is contained in the area of mutual interest Atlas has established with a subsidiary of Reliance Industries Limited ("Reliance") and was acquired jointly with Reliance. As a result of the transaction, Atlas owns a 60% interest in the new acreage and Reliance owns a 40% interest in the new acreage. The acreage was acquired from two sellers through two transactions.