OSLO, NORWAY – Norse Energy Corp. announced on Oct. 22 that its U.S. subsidiary, Nornew, Inc., has retained Jefferies Randall & Dewey in the formation of a joint venture to develop the company’s extensive Marcellus and Utica Shale positions in New York.

The company has in excess of 130,000 net acres under lease in Chenango, Broome and Madison counties. Most of this acreage has development potential in both the Marcellus and Utica Shale formations.

The company's acreage position is anchored by a 50-mile plus proprietary transportation and gathering system, presently connected to New York State Energy and Gas company lines and the interstate Dominion transmission system. The transportation and gathering system has potential access to the Millennium pipeline that flows to high-demand gas markets in the Northeast.