CONSOL Energy and Noble Energy Enter into a Joint Venture for CONSOL's Marcellus Shale Acreage

CONSOL Energy Inc. CNX announced today that it has entered into an agreement with Noble Energy, Inc. NBL for the joint development of CONSOL's 663,350 Marcellus Shale acres in Pennsylvania and West Virginia for aggregate payments to CONSOL of approximately $3.4 billion. Under the agreement, Noble Energy will acquire 50% of CONSOL's Marcellus Shale interest including a 50% interest in CONSOL's existing Marcellus Shale wells.