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.
