Chesapeake Energy (CHK) to Sell Utica Shale Position For $2 Billion
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Chesapeake Energy Corporation Agrees To Sell Utica Shale Position For $2.0 Billion, Provides Powder River Basin Update And 2018 Updated Guidance
July 26, 2018 4:30 PM EDTOKLAHOMA CITY, July 26, 2018 /PRNewswire/ --Â Chesapeake Energy Corporation (NYSE: CHK) today announced that it has entered into an agreement to sell its interests in the Utica Shale operating area located in Ohio for approximately $2.0 billion to Encino Acquisition Partners, a private oil and gas company headquartered in Houston, Texas. The transaction, which is subject to certain customary closing conditions, including the receipt of third-party consents, is expected to close in the fourth quarter of 2018. The purchase price includes a $100 million contingent payment based on future natural gas prices and is... More
