San Ramon-based Chevron Corp. announced early today that it will acquire Atlas Energy Inc. for $3.2 billion cash and an assumption of debt of approximately $1.1 billion.
The acquisition will provide Chevron with “an attractive natural gas resource position” in Pennsylvania’s Marcellus Shale, according to a Chevron statement announcing the deal. Moontownship, Pa.-based Atlas, an independent natural gas producer, is one of the lead developers of the Marcellus Shale. The deal also will further increase Chevron’s global resources in shale gas.
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