Endeavour scraps Pennsylvania Marcellus shale purchases

HOUSTON ― U.S. oil and gas exploration firm Endeavour International Corp. has scrapped its proposed purchase of Pennsylvania Marcellus shale assets from SM Energy Co. and other minority owners.

Endeavour did not cite a reason for its decision.

In July, Endeavour had said it would buy the assets for about $110 million.

The Marcellus shale, which stretches from West Virginia and Ohio across Pennsylvania and into New York, is one of the biggest natural gas finds in the United States in decades, but the hydraulic fracturing drilling used to tap into the vast quantities of fuel locked in the shale rock has prompted environmental concerns in the region.