SJI to Sell Certain Marcellus Shale Assets for $9M

South Jersey Industries SJI announces that one of its subsidiaries has entered into agreements with Endeavour International Corporation END to sell certain Marcellus Shale assets for total cash proceeds of approximately $9 million. The transaction involves the company's working interests and its interests in the gathering system held through its 30% ownership in Potato Creek, LLC. Since 2008, Potato Creek has leased the deep mineral rights on the 21,000 acres to SM Energy. Currently, three producing wells are located on this acreage and are included in the sale. SJI will retain its interest in the minerals and will continue to earn royalties on all gas production under the existing lease agreement. The closing is expected to occur in the fourth quarter of 2011.