One-Page Deal Sheet
Exxon Mobil Acquires Woodford Acerage From Chesapeake
ExxonMobil Chesapeake Energy Corp
Announced Date
April 10,2012
Close Date
April 30,2012
Transaction Type
Property
Enterprise Value (EV)($MM)
590
Asset/Basin:
{"Texoma Woodford","Woodford Shale"}
TargetZones:
{"Woodford Shale"}
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent
Country
United States
State
Oklahoma
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
In a third transaction, Chesapeake will sell Exxon Mobil Corp. 58,400 net acres of leases in Oklahoma's Texoma Woodford play for about $590 million in cash before certain costs and adjustments. The deal is expected to close April 30, said Chesapeake, the nation's second-largest natural gas producer.
Exxon Mobil, the No. 1 gas producer, has been expanding its search for untapped prospects in the Woodford formation this year after completing 31 wells in the area in 2011. The Irving, Texas-based company had nine rigs drilling in the Woodford as of last month, according to a company presentation…
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