Chesapeake Energy (CHK) to Exit Barnett Shale
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Chesapeake Energy Corporation Agrees To Exit Barnett Shale, Asset To Be Acquired And Operated By First Reserve, Announces Renegotiation Of Mid-Continent Gas Gathering Agreement And Provides Preliminar
August 10, 2016 4:35 PM EDTOKLAHOMA CITY, Aug. 10, 2016 /PRNewswire/ --Â Chesapeake Energy Corporation (NYSE: CHK) today announced that it has entered into an agreement to convey its interests in the Barnett Shale operating area located in North Texas to Saddle Barnett Resources, LLC ("Saddle Resources"), a company backed by First Reserve, a leading global private equity and infrastructure investment firm exclusively focused on energy, and simultaneously terminate future commitments associated with this asset.
The impacts to Chesapeake upon completion of these actions will be as follows:
Increases Chesapeake's operating income, before charges... More