One-Page Deal Sheet
Chesapeake's 850 Million Divestiture
Not Disclosed Chesapeake Energy Corp
Announced Date
May 03,2011
Close Date
May 03,2011
Transaction Type
Property
Enterprise Value (EV)($MM)
850
Location
Region
Mid-Continent
Country
United States
State
Oklahoma
Transaction Details: Require Private Equity Subscription
Chesapeake has agreed to monetize certain of its producing assets in the Mid-Continent through a ten-year volumetric production payment (VPP) to an affiliate of Barclays PLC for proceeds of approximately $850 million. The transaction includes approximately 180 bcfe of proved reserves and approximately 80 mmcfe per day of current net production. The reserves in the package are approximately 80% gas, 20% liquids.
Chesapeake has retained drilling rights on the properties below currently producing intervals and outside of existing producing wellbores and the production tail beyond ten years. The…
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