Haymaker Closes $128M Acquisition of Chesapeake' (CHK) non-Operated Royalty Portfolio

February 23, 2016 7:00 AM EST

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





Related Categories

Corporate News, Mergers and Acquisitions, Private Equity, Spinoffs

Related Entities

Kohlberg Kravis Roberts, Definitive Agreement