Chesapeake Files $583.63M IPO for Granite Wash Trust (CHKR) Spin Off
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Chesapeake Energy (NYSE: CHK) filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of Chesapeake Granite Wash Trust (NYSE: CHKR). The proposed maximum offering is $583.625 million. Chesapeake Granite Wash plans to list on the NYSE under the ticker "CHKR."
The offering is being made through Morgan Stanley and Raymond James.
Chesapeake Granite Wash Trust is a Delaware statutory trust formed in June 2011 to own (a) royalty interests to be conveyed to the trust by Chesapeake in 60 horizontal wells producing from the Colony Granite Wash play located in Washita County in western Oklahoma, and (b) royalty interests in 122 horizontal development wells to be drilled exclusively in the Colony Granite Wash on properties within an “Area of Mutual Interest,” or “AMI.”
The offering is being made through Morgan Stanley and Raymond James.
Chesapeake Granite Wash Trust is a Delaware statutory trust formed in June 2011 to own (a) royalty interests to be conveyed to the trust by Chesapeake in 60 horizontal wells producing from the Colony Granite Wash play located in Washita County in western Oklahoma, and (b) royalty interests in 122 horizontal development wells to be drilled exclusively in the Colony Granite Wash on properties within an “Area of Mutual Interest,” or “AMI.”
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