One-Page Deal Sheet
Statoil and Chesapeake Forms Marcellus JV
Equinor Chesapeake Energy Corp
Announced Date
November 11,2008
Close Date
November 24,2008
Transaction Type
JV
Enterprise Value (EV)($MM)
3375
Asset/Basin:
{"Appalachian Basin"}
TargetZones:
{"Marcellus Shale"}
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Northeast
Country
United States
State
Pennsylvania
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Require Private Equity Subscription
Chesapeake Energy and the Norwegian energy company Statoil Hydro announced the formation of a strategic alliance on Tuesday to explore for unconventional natural gas opportunities worldwide and an agreement for a joint venture in large gas field in the eastern United States.
StatoilHydro will pay $3.375 billion for a 32.5 percent interest in Chesapeake’s assets in the so-called Marcellus Shale geologic formation — about 1.8 million net acres — in the Appalachian region. Chesapeake, based in Oklahoma City, would retain the remaining 67.5 percent.
StatoilHydro will pay $1.25 billion of the…
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