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Chesapeake Energy Plans to Sell Oil and Gas Assets in Ohio to Reduce Long-Term Debt ? Deal Analysis from GlobalData

Chesapeake Energy Plans to Sell Oil and Gas Assets in Ohio to Reduce Long-Term Debt ? Deal Analysis from GlobalData

Table of Contents

Market Briefing
Published: June 2012
Pages: 6
Tables: For full details, please email deborahf@cmsinfo.com
From: GBP 312.50  Buy Now!
Research from: GlobalData
Sector: Oil & Gas

Chesapeake Energy Plans to Sell Oil and Gas Assets in Ohio to Reduce Long-Term Debt ? Deal Analysis from GlobalData

Summary

Chesapeake Energy Corporation, an oil and gas exploration and production company, intends to sell certain oil and gas assets in Utica/Point Pleasant trend in Ohio.

The assets include 337,481 net acres (510,847 gross) in 19 counties with rights limited to the Cincinnati, Utica, Point Pleasant and Trenton intervals. Most of the acreage in question lies in the wet gas or oil windows of the play. Target depths range from 2,000 to 7,000 feet with a combined Utica/Point Pleasant thickness ranging from 100 to 300 feet. Of the total acreage, 270,484 net acres (80%) are held by production.

Meagher Energy Advisors has been retained as exclusive advisor by Chesapeake Energy for the divestment of its assets.

The transaction will have an effective date of July 1, 2012. The bidding is due to start on July 11, 2012 and is expected to completed on August 17, 2012.

Scope

- Rationale behind the planned asset sale by Chesapeake Energy Corporation.
- Similar asset divestments taken up by Chesapeake.
- Geography covered - the US

Reasons to buy

- Develop a sound understanding of the major asset divestmnets and planned asset divestments undertaken by Chesapeake Energy Corporation
- Identify the rationale for Checapeake to divest from its oil and gas assets in Ohio
- To understand key issues pertaining to current financial challenges faced by Chesapeake Energy

Keywords

Chesapeake Energy Corporation, Chesapeake Asset Divestments, Planned Asset sales, Ohio asset sales

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