Newfield Exploration and EOG Resources have jointly agreed to terminate the purchase and sale agreement, which was announced on 15 November 2010, regarding EOG's sale of certain Marcellus Shale acreage in northeastern Pennsylvania.

The proposed sale comprised approximately 50,000 net acres in the Marcellus Shale located in Bradford County, and the acreage includes five producing natural gas wells with 7mmcf/d of gross production.

Earlier, Newfield estimated that more than 400 gross operated well locations exist on the acreage and that net unrisked reserve potential is 1.5tcfe-2tcfe.

The company planned to run two operated rigs and invest approximately $100m in 2011 to substantially hold the acreage by production.