Chesapeake Energy sells Utica Shale stake to Encino Acquisition Partners

Published by Nicholas Woodroof, Editor
Oilfield Technology, Friday, 27 July 2018 14:30

Chesapeake Energy Corp. has entered into an agreement to sell its interests in the Utica Shale operating area located in Ohio, US, for approximately US$2 billion to Encino Acquisition Partners, a private oil and gas company headquartered in Houston, Texas, US.

The transaction, which is subject to certain customary closing conditions, including the receipt of third-party consents, is expected to close in 4Q18.

The purchase price includes a US$100 million contingent payment based on future natural gas prices and is subject to adjustment for certain customary items at or following closing.

Chesapeake intends to use the anticipated net proceeds to reduce debt.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/27072018/chesapeake-energy-sells-utica-shale-stake-to-encino-acquisition-partners/

Saipem: third extension of contract with Aker BP for Scarabeo 8 for offshore drilling activities in Norway into 2028

Friday 19 December 2025 10:30

Saipem announces that Aker BP has exercised a new option to extend the contract for the semi-submersible drilling unit Scarabeo 8, prolonging its deployment for an additional year.

You might also like