Reliance makes third US shale gas field purchase in four months for $392 million


Indian energy firm Reliance has made its third investment in US shale gas production this year with a $392 million stake in a Marcellus, Pennsylvania, shale acreage joint venture with US-based Carrizo.

The firm will own 60% of the 104,400 acreage in Pennsylvania, buying out all of US-based private equity firm Avista Capital Partners' interest and 20% of Carrizo's interests.

This latest deal is considerably smaller than the two previous deals announced earlier in the year. Nonetheless, the speed