Alpha Natural Resources sells Pennsylvania Land Resources
Clients Alpha Natural Resources Inc.
Jones Day assisted Alpha Natural Resources in the $339.5 million sale of certain oil and natural gas assets in Southwest Pennsylvania to Vantage Energy Appalachia II, LLC in connection with Alpha's chapter 11 cases. Vantage purchased the assets free and clear of liens and claims after winning a multi-party bankruptcy auction run by Jones Day and Alpha's financial advisors. After multiple rounds of bidding, Vantage's winning cash bid exceeded the previously announced stalking horse bid of $200 million for the same assets.