Nothing but negotiation

The Gap Partnership

Noble Energy finishes business negotiations with Consol

The two firms will work together on the Marcellus Shale as a result of the deal.

18 August 2011

Noble Energy has confirmed it has agreed on a joint venture deal with Consol Energy that will see the two develop the Marcellus Shale site.

The former is to pay the latter $1.07 billion (£649 million) for a 50 per cent stake in its 663,350 net undeveloped acres.

Under the terms of the business negotiations, Noble - which was established in 1932 - will also fund $2.13 billion of Consol's future drilling and completion costs at the location over an eight-year period, which is one of the largest natural gas fields ever discovered.

Charles Davidson, chairman and chief executive officer of Noble, noted his company is "excited" by the opportunities this partnership will offer.

"The Marcellus, combined with our ongoing developments in the DJ basin and deepwater Gulf of Mexico, will provide important balance to our rapidly expanding international programmes," he added.

Mr Davidson continued by saying the deal improves Noble's US portfolio.

Posted by Ken Hayes

Gap News

March 2014

The Negotiation Roadshow 2014

Generating value through creative negotiation

Read more

July 2013

Trading Global: Negotiating in the Far East

The Gap Partnership are hosting a complimentary Lunch & Learn seminar in association with UK Trade & Investment

Read more

April 2013

GroceryAid Negotiation Event Raises £26,550

The Gap Partnership, in conjunction with Asda, SC Johnson and Waitrose, host one-day negotiation workshop

Read more

February 2013

Trading Global - Negotiating in the Far East

What is the impact of cultural differences on your negotiations?

Read more

December 2012

The Gap Partnership Release New Negotiation Video

The Nothing but Negotiation video series continues with collaborative negotiation

Read more