One-Page Deal Sheet
Cimarex Energy To Acquire Woodford Acreage From Chesapeake
Cimarex Energy Co. Chesapeake Energy Corp
Announced Date
October 21,2008
Effective Date
October 01,2008
Transaction Type
Property
Enterprise Value (EV)($MM)
180
Asset/Basin:
{"Anadarko Basin"}
TargetZones:
{"Woodford Shale"}
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent
Country
United States
State
Oklahoma
County
Blaine ,Canadian
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
Cimarex Energy Co. announced the expansion of its Woodford Shale position in the Anadarko Basin of western Oklahoma. Cimarex has entered into an agreement with Chesapeake Energy Corporation (NYSE: CHK) to acquire 38,000 net acres for $180 million.
The acreage is located in Blaine and Canadian counties, with 88% held by production and an average net revenue interest of 84%. After completing this transaction Cimarex will have 88,000 net Anadarko-Woodford acres.
Cimarex has drilled or participated in a total of 18 Anadarko-Woodford Shale wells through the end of the third quarter of 2008. Eight…
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