Seller of Marcellus Shale gas rights disputes $60 million contract
Clients Land company
Jones Day is currently representing a land company as the seller of Marcellus Shale gas rights. The purchaser has refused to close the transaction, arguing that the Purchase and Sale Agreement (“PSA”) is not enforceable and the seller has failed to meet the PSA’s Net Mineral Acres requirement. The PSA involves approximately 20,000 acres with a price in excess of $60 million.