25 April 2024
Chesapeake selling Texan acreage
Publication date: 31 May 2012
Gas Strategies Group
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ISSN: 0964-8496
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Chesapeake Energy is looking to offload more than 57,000 net acres of leasehold in the Woodbine play in East Texas. Woodbine lies directly under the Eagle Ford shale, and Chesapeake’s liquids-rich acreage includes producing wells with an average net production of 348 b/d of liquids and 870 Mcf/d of gas. Troubled Chesapeake is selling the assets to help fill a $16 billion funding gap.