Under the agreements, the company has purchased a 50% interest in 628,000 net undeveloped acres for about $1bn.

Noble Energy has also acquired a 50% stake in existing Marcellus production and infrastructure for about $232m.

In addition, the company will fund about $2.1bn of CONSOL’s future drilling and completions costs, which are expected to extend over an eight-year period.

Noble Energy is an independent energy firm engaged in worldwide oil and gas exploration and production.