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.
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%