Marubeni Corp. and Hunt Oil Co. have signed an agreement to jointly develop properties exposed to the Eagle Ford Shale in Texas.
Marubeni Corp. will purchase 35% of Hunt Oil Co.’s position in this popular shale play in exchange for $1.3 billion. The funds will be paid up front and as part of a future drilling carry.
Marubeni Corp. and Hunt Oil Co. plan to drill several hundred wells into the Eagle Ford Shale over the next ten years.
