Chesapeake to sell Oklahoma assets to private company for $840M# Stock
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Chesapeake Energy (CHK -5.5%) agrees to sell assets in Oklahoma’s Western
Anadarko Basin to privately-held FourPoint Energy for $840M. FourPoint will
get interest in ~1,500 producing wells in western Oklahoma that produce an
average 21.5K boe/day, split between oil, natural gas liquids and natural
gas; the assets cover nearly 250K net acres of mineral rights. CHK had
drilled and completed more than 190 horizontal wells in the acquisition area
since 2012, and halted drilling there this Q1 in anticipation of selling
the wells, FourPoint says.
Anadarko Basin to privately-held FourPoint Energy for $840M. FourPoint will
get interest in ~1,500 producing wells in western Oklahoma that produce an
average 21.5K boe/day, split between oil, natural gas liquids and natural
gas; the assets cover nearly 250K net acres of mineral rights. CHK had
drilled and completed more than 190 horizontal wells in the acquisition area
since 2012, and halted drilling there this Q1 in anticipation of selling
the wells, FourPoint says.