Oil and gas producer Noble Energy Inc (NBL.N) will pay $3.4 billion to Consol Energy Inc (CNX.N) to form a partnership to develop Consol's properties in the Marcellus shale. The move is Noble's first into the Marcellus shale, one of the largest natural gas fields ever discovered, and comes as natural gas prices slump below $4 per million British thermal units. The rapid development of the field that spreads from West Virginia and Ohio across Pennsylvania and into New York has spurred environmental worries around the hydraulic fracturing technology used to drill wells there. A U.S. Department of Energy panel last week called for greater disclosure around those drilling techniques.
Noble Energy, Inc. (Noble Energy) is an independent energy company, which is engaged in the oil and gas exploration and production worldwide. Shares of NBL fell by 4.79% or $-4.21/share to $83.73. In the past year, the shares have traded as low as $63.80 and as high as $101.27. On average, 1500120 shares of NBL exchange hands on a given day and today's volume is recorded at 784824.
CONSOL Energy Inc. (CONSOL Energy) is a multi-fuel energy producer and energy services provider primarily serving the electric power generation industry in the United States. Shares of CNX traded higher by 2.59% or $1.1/share to $43.52. In the past year, the shares have traded as low as $31.08 and as high as $56.32. On average, 3772810 shares of CNX exchange hands on a given day and today's volume is recorded at 6106385.
