A Denver investment firm is making a big bet again on natural gas fields in northeast Pennsylvania.
Kalnin Ventures LLC said it's making its sixth acquisition in 30 months in the northeast portion of the Marcellus Shale in Wyoming County, Pennsylvania. This time, it's buying 35 producing wells and additional well locations from Warren Resources for $105 million. Depending upon natural gas prices, it could pay an additional $7 million.
"We continue to consolidate and expand our working interests in this region, as we believe in the long-term outlook for gas, especially in the conjunction with growth in renewables,” said Christopher Kalnin, managing director and co-founder of Kalnin Ventures, in a statement.
Kalnin's investor in the deal again is its sole investor Banpu Pcl, a Thailand-based coal mining and power generation company.
Read more at the Denver Business Journal: http://bit.ly/2jBCAor
