One-Page Deal Sheet
Chesapeake Farms Out to CNOOC Ltd. in Powder River and Denver Julesberg Basins
CNOOC Limited Chesapeake Energy Corp
Announced Date
February 16,2011
Close Date
February 16,2011
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
570
Asset/Basin:
{"DJ Basin","Powder River Basin"}
TargetZones:
{Niobrara}
Net Acres
Transaction Details: Require Private Equity Subscription
Chesapeake Energy Corporation and CNOOC Limited today announced the closing of a project cooperation agreement whereby CNOOC International Limited, a wholly owned subsidiary of CNOOC Limited, purchased a 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 was $570 million in cash. In addition, CNOOC Limited has agreed to fund 66.7% of Chesapeake’s share of drilling and completion costs up to $697 million, which Chesapeake…
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jun-05-2025 | Vermillion Energy Exits US, Sells Power River Basin Asset | -  |
- |
| Jan-25-2022 | Continental to Buy Chesapeake's PRB Assets for $450MM in Cash | - |
- |
| Feb-17-2021 | Continental Resources Enters the PRB; Inks $215MM Deal | - |
- |