Closing of Asset Sale in Marcellus Shale Project

Sep. 07, 2020 Sumitomo Corporation

Closing of Asset Sale in Marcellus Shale Project

Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) announced that on Sep 4th, it closed a transaction to sell Marcellus Shale Gas development project and its relevant assets (the Project) in the state of Pennsylvania. Sumitomo Corporation, through its consolidated subsidiary in U.S.A., Summit Discovery Resources LLC (SDR), participated in the Project on September 2010.

 

＜Related Information＞

■Project Overview

Location  : Butler County, Pennsylvania in U.S.A., etc. Operator : PennEnergy Resources, LLC SDR Net Working Interest  : ～30％

 

■Outline of SDR

Company name  : Summit Discovery Resources LLC Head Office : Houston, Texas, in U.S.A. Investors : Sumitomo Corporation, 70% Sumitomo Corporation of Americas, 30% 

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