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.
Energy XXI CEO John Schiller shares his views on the foundation for a sustainable company.
Chesapeake has already sold roughly $1.4 billion of E&P assets so far this year.
So far this year, the Midcontinent, Rockies Mountains and onshore Gulf Coast have generated the most activity and deal value.
With the acquisition, the company is now operating in a majority of the key energy resource plays in the U.S.
E&P borrowers often forget the strings (and sometimes ropes) that come with capital.
The deal adds roughly 30% of reserves to the company’s 19.1 MMboe.
|E&P||USD 5375||Members only||Chesapeake Energy Corp.|
|Mid||USD 2500||Members only||QEP Resources Inc.|
|S&S||USD 225||Members only||CRS Proppants LLC|
|Mid||USD 470||Members only||Costar Midstream LLC|