Haymaker Closes $128M Acquisition of Chesapeake' (CHK) non-Operated Royalty Portfolio
- Nasdaq tumbles 2% on weak data, surging bond yields
- Ford (F) Stock Soars on $11.4 Billion EV Partnership with Battery Maker SK Innovation (SKOVF)
- Brent oil near $80 a barrel on tighter supplies
- Piper Sandler Raises Estimates on Tesla (TSLA) Ahead of 'Best-Ever Quarter' in Q3
- Buy-the-dip Mentality Continues to Dominate, Last Week's $5.9 Billion Stock Inflows Were Fourth Largest Since 2008 - BofA
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
On January 29, 2016, Houston-based Haymaker Resources closed on the acquisition of mineral and royalty interests from certain affiliates of Oklahoma City-based Chesapeake Energy Corporation. The acquisition includes producing and non-producing mineral and royalty interests associated with over 8,500 wells across 24 states and 324 counties. The majority of production comes from the Mid-Continent, Haynesville, and Appalachia regions. Final closing price is subject to post-closing adjustments.
Haymaker CEO Karl Brensike said, “In the current market environment, operators are focusing on their core assets more than ever before. I think everyone can agree that there is nothing more non-core to an operator than owning non-operated royalty interests. This was a complex transaction, involving numerous business units formed over Chesapeake’s 30 years as a very active acquirer of premier oil and gas assets. I am proud of our team, which is uniquely capable of executing these types of transactions. We are fortunate to have a capital structure that allows us to continue acquiring aggressively throughout the current commodity cycle."
DLA Piper advised Haymaker on the transaction.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Village Farms (VFF) Enters Option Agreement to Acquire 80% of Leli Holland
- Affiliated Managers Group (AMG) Announces Investment in Abacus Capital Group
- Polestar in Advanced Talks to Merge with SPAC Gores Guggenheim (GGPI) in Deal Valuing EV Maker at $21B - WSJ
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions, Private Equity, Spinoffs
Related EntitiesKohlberg Kravis Roberts, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!