Royal Dutch Shell (RDS.B) announced the acquisition of East Resources, a private oil and gas company with acreage prospective for the Marcellus Shale in Pennsylvania. The company paid $4.7 billion in cash.
East Resources has 650,000 net acres exposed to the Marcellus Shale with current production of 60 million cubic feet equivalent per day of production. The company’s total acreage in the play is 1.05 million acres.
