Chesapeake Energy (CHK) Reports In-Line Q1 EPS; Will Sell Anadarko Basin STACK Acreage in $470M Deal (NFX)
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Newfield to acquire an additional 42,000 net acres in STACK
May 5, 2016 8:18 AM EDTTHE WOODLANDS, Texas, May 5, 2016 /PRNewswire/ --Â Newfield Exploration Company (NYSE: NFX) today signed a definitive purchase and sale agreement with a subsidiary of Chesapeake Energy Corporation (NYSE: CHK) to acquire approximately 42,000 net acres in the Anadarko Basin STACK play for $470 million. The transaction will have an effective date of April 1, 2016 and closing is subject to customary adjustments. Newfield expects to fund the transaction with cash on hand and closing is planned for the second quarter of 2016.
Transaction Highlights:
Expands Newfield's industry-leading STACK footprint to... MoreChesapeake Energy Corporation Reports 2016 First Quarter Financial And Operational Results
May 5, 2016 8:15 AM EDTOKLAHOMA CITY, May 5, 2016 /PRNewswire/ -- Chesapeake Energy Corporation (NYSE: CHK) today reported financial and operational results for the 2016 first quarter. Highlights include:
Signed agreement to sell approximately 42,000 net acres prospective for the STACK play in Oklahoma for approximately $470 million; includes current production of 3,800 boe per day 2016 first quarter production averaged approximately 672,400 boe per day, an increase of 1% year over year, adjusted for asset sales Improved 2016 first quarter cost performance leads to lower full-year 2016 production expense and GP&T expense guidance... More