One-Page Deal Sheet
Chesapeake Makes Major Sales
Eig Petroleum, GSO Capital Partners Lp, XTO Energy Inc. Chesapeake Energy Corp
Announced Date
April 09,2012
Close Date
April 09,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
2600
TargetZones:
{Cleveland,Tonkawa,"
Transaction Details: Require Private Equity Subscription
Chesapeake Energy Corporation today announced three oil and gas asset monetization transactions for total proceeds of approximately $2.6 billion in cash. Chesapeake has completed the sale of preferred shares of a newly formed unrestricted, non-guarantor consolidated subsidiary, CHK Cleveland Tonkawa, L.L.C. (CHK C-T), and a 3.75% overriding royalty interest in the first 1,000 new net wells to be drilled on CHK C-T leasehold and certain wells contributed at closing for proceeds of $1.25 billion. The purchasing investment group was led by GSO Capital Partners LP, an affiliate of the Blackstone…
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