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RIL bags 60 pc stake in US firm Marcellus Shale
RIL's subsidiary, Reliance Marcellus II LLC, had signed a definitive transaction agreement to enter into a Marcellus Shale joint venture with the US based Carrizo.
However, Carrizo Oil & Gas Inc earlier announced that the company closed its previously announced joint venture transaction in the Marcellus Shale with a subsidiary of Reliance Industries Limited.
Reliance paid $11.4 million in cash to Carrizo at closing with $1.7 million more expected by the end of 2010.
OneIndia News
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Story first published: Monday, September 13, 2010, 16:00 [IST]