Penn Virginia Resource Partners said Tuesday that it will pay $1 billion to acquire pipeline company Chief Gathering to expand its own operations in the natural gas-producing Marcellus Shale formation in the northeast United States.
April 12, 2012 at 12:00 AM
1 minute read
Penn Virginia Resource Partners said Tuesday that it will pay $1 billion to acquire pipeline company Chief Gathering to expand its own operations in the natural gas-producing Marcellus Shale formation in the northeast United States.
Radnor, Pa.-based Penn Virginia plans to buy Chief Gathering from parent Chief E&D Holdings of Dallas with cash and $200 million in newly issued Penn Virginia stock.
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