Kalnin Ventures announces closing of second Marcellus asset acquisition
Published by Louise Mulhall,
Kalnin Ventures LLC has announced it has closed on its second acquisition of a non-operating portfolio in the northeast Marcellus shale play of Pennsylvania, on behalf of its investor Banpu Pcl.
Banpu Pcl is a Thailand-based coal mining and power-generation company with total assets of around US$6.6 billion. Valued at US$63 million, the transaction was executed with Chief Exploration and Development LLC as the seller and is comprised of interests in more than 170 wells, operated by seven established Marcellus operators. The transaction is a continuation of Kalnin Ventures' strategy to build a scalable model of acquiring, managing, and eventually transferring non-operated portfolios for international entities such as Banpu Pcl.
"This transaction personifies our three-phased approach to driving value for non-operators in the region: ensure financial management of the assets, be a technical partner, and use technology and metrics to drive the performance and potential of the assets," said Christopher Kalnin, managing director and founder of Kalnin Ventures LLC.
Read the article online at: https://www.worldcoal.com/coal/18012017/kalnin-ventures-announces-closing-of-second-marcellus-asset-acquisition/
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