One-Page Deal Sheet
CNOOC Acquires Niobrara Focused Acreage From Chesapeake
CNOOC Limited Chesapeake Energy Corp
Announced Date
January 30,2011
Close Date
February 16,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
1267
Asset/Basin:
{"DJ Basin","Powder River Basin"}
TargetZones:
{"Niobrara Shale"}
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Rockies - DJ Basin,Rockies - Powder River Basin
Country
United States
State
Wyoming
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
Chesapeake Energy Corporation and CNOOC Limited announced the execution of an agreement whereby CNOOC International Limited, a wholly-owned subsidiary of CNOOC Limited, will purchase 33.3% undivided interest in Chesapeake's 800,000 net oil and natural gas leasehold acres in the Denver-Julesburg (DJ) and Powder River Basins in northeast Colorado and southeast Wyoming. The consideration for the transaction will be $570 million in cash at closing.
In addition, CNOOC Limited has agreed to fund 66.7% of Chesapeake's share of drilling and completion costs until an additional $697 million has been…
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