Atlas Energy and Reliance will acquire an additional 42,344 acres of Marcellus Shale area in Pennsylvania, US, for its joint venture.
According to the company, 450 horizontal wells can be drilled on the acquired acreage assuming 1,000ft spacing between lateral wells.
With the addition in acreage in the Fayette, Washington, Indiana, Westmoreland, Armstrong and Clarion Counties, the joint venture will control about 343,000 Marcellus Shale acres.
The contiguous nature of the acreage will enable the company to concentrate development and develop a large percentage of the acreage in the next five years, Atlas said in a statement.