One-Page Deal Sheet
Chesapeake to Sell Off STACK Properties for $470 Million
Newfield Exploration Co. Chesapeake Energy Corp
Announced Date
May 05,2016
Effective Date
April 01,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
470
Asset/Basin:
{"Anadarko Basin"}
Net Acres
Net Operated Locations:
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent - Anadarko Basin
Country
United States
State
Oklahoma
County
Kingfisher ,Blaine ,Dewey ,Canadian
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Transaction Details: Require Private Equity Subscription
Newfield Exploration Company signed a definitive purchase and sale agreement with a subsidiary of Chesapeake Energy Corporation to acquire approximately 42,000 net acres in the Anadarko Basin STACK play for $470 million.
The transaction will have an effective date of April 1, 2016 and closing is subject to customary adjustments. Newfield expects to fund the transaction with cash on hand and closing is planned for the second quarter of 2016.
Transaction Highlights: Expands Newfield's industry-leading STACK footprint to approximately 265,000 net acres. Significant overlap with Newfield's…Mid-Continent - Anadarko Basin Deal Activity In Last 12 Months
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