US energy firm puts $3.2bn into Marcellus Shale site

American firm Noble Energy is investing $3.2billion in a natural gas site in Pennsylvania and West Virginia owned by CONSOL Energy. The firm has signed for a 50% stake of […]

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By Vicky Ellis

American firm Noble Energy is investing $3.2billion in a natural gas site in Pennsylvania and West Virginia owned by CONSOL Energy. The firm has signed for a 50% stake of the venture with CONSOL, the leading natural gas producer in the eastern United States, in the Marcellus Shale which could create work for more than a decade.

Noble Energy’s Chairman and CEO Charles D. Davidson, said that a position in the Marcellus Shale, which is located in the Appalachian Basin, was “economically attractive” because of “its enormous resource potential, its proximity and access to premium markets, and its competitive cost structure.”