The company’s Permian Basin core holdings should expand, an analyst says.
Chesapeake parted with 413,000 net acres and about 1,500 wells including 435 in the Marcellus and Utica.
The state’s oil production could double by 2020, analyst says.
With billions after billions of dollars spent on acquisitions and the falling price of oil, industry consolidation may be thrust upon oil and gas companies.
Tesoro Logistics LP (NYSE: TLLP) will pay $2.5 billion in cash, including $230 million to refinance debt for the assets.
The acquisition will roughly double Eagle's frack sand production capacity and expand its frack sand reserves.