One-Page Deal Sheet
Chesapeake and Energen To Jointly Develop Alabama Properties
Chesapeake Energy Corp Energen Corp.
Announced Date
October 16,2006
Transaction Type
JV
Enterprise Value (EV)($MM)
90
Net Acres
Location
Calculated Metrics( EV/Category)
Country
United States
State
Alabama
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
Energen Resources Corporation, the oil and gas subsidiary of Energen Corporation, and Chesapeake Energy Corporation today jointly announced that Energen Resources has sold a 50 percent interest in its lease position in various shale plays in Alabama to Chesapeake for cash and a carried drilling interest. In addition, the two companies have signed an agreement to form an area of mutual interest (AMI) to focus on the further exploration and development of these shale plays throughout Alabama.
Energen Resources received $75 million in cash from Chesapeake for a 50 percent interest in Energen…
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