Anschutz Exploration Corporation (AEC) will sell-off the Appalachian portion of its oil and gas properties to an undisclosed buyer.
The assets include producing oil and gas properties and about 500,000 acres in Pennsylvania, Ohio and New York with exposure to the Marcellus, Utica and Trenton Black River exploration trends.
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The transaction will be completed in late 2010.
Bank of America Merrill Lynch acted as advisor to AEC for the deal.
