One-Page Deal Sheet
Tapstone Picks Up Chesapeake's MidCon Assets with $131MM Bid
Tapstone Energy Llc Chesapeake Energy Corp
Announced Date
November 18,2020
Close Date
December 11,2020
Transaction Type
Property
Enterprise Value (EV)($MM)
131
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent - Anadarko Basin
Country
United States
State
Oklahoma
County
Kingfisher
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Tapstone Energy will acquire Chesapeake Energy's MidContinent assets after submitting the winning bid of $130.5 million at the bankruptcy auction, according to multiple reports.
Chesapeake was approved to put the assets up for sale in October 2020.
The bidding was competitive, spurring Tapstone to upsize its bid from its initial $85 million offer. Mach Resources, who acquired Chesapeake's Mississippi Lime assets in 2018 for $500MM, was the other standout bidder.
Tapstone is helmed by former Chesapeake exec Steve Dixon.
Asset Overview Net Acreage: 700,000 net acres Production (as of 3Q20):Mid-Continent - Anadarko Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-17-2026 |
-  |
- |
Click here | Oklahoma | E&P |
| Sep-09-2025 |
- |
- |
Click here | Oklahoma | E&P |
| Aug-07-2025 |
- |
- |
Click here | Oklahoma | E&P |
| Mar-24-2025 |
- |
- |
Click here | Oklahoma | E&P |
| Sep-06-2022 |
- |
- |
Click here | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jan-27-2025 | Diversified Acquires Maverick for $1.275 Billion to Expand Liquids Exposure and Anadarko/Permian Footprint | - |
- |
| Sep-06-2022 | Sitio Royalties, Brigham to Merge in All-Stock Deal Worth $4.8 Billion | - |
- |
| Jul-28-2022 | Diversified Picks Up MidCon Assets from Conoco for $240 Million | - |
- |