Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) and Anadarko Petroleum Corp., The Woodlands, Texas, (NYSE: APC) have entered a joint venture and other agreements involving assets in the Deep Haley area of the Delaware Basin in West Texas and elsewhere for $310 million in cash and other consideration. The basin is part of the Permian Basin. Chesapeake has acquired from Anadarko 25% of its existing Deep Haley production; 25% of the leasehold in the central and eastern portions of the area; 50% leasehold and contractual rights in the western portion of the area; a lease on 2,100 net acres in the Fayetteville shale play in Arkansas; 5,600 net undeveloped lease acres in the Anadarko Basin in western Oklahoma; and Oklahoma City real estate assets Anadarko gained last year as part of its acquisition of Kerr-McGee Corp. Other consideration includes reimbursing Anadarko for capex in development of the Deep Haley properties, and funding a portion of Anadarko's future Deep Haley area capital costs and 50% of certain Chesapeake nonproducing leasehold interests in Loving County, Texas.
Recommended Reading
Oando Completes Acquisition of Eni’s Nigerian Agip Oil Co.
2024-08-22 - Oando’s acquisition of NAOC increases its total reserves by 98%.
Venezuela Lost Citgo, But the Battle’s Not Over Yet
2024-10-04 - Amber Energy’s $7.3 billion purchase of Citgo fell well short of analyst’s valuations. PDVSA Ad Hoc expects to appeal the decision soon in its battle to protect its claim on Citgo.
Vivakor to Acquire Endeavor Crude Transport Cos. for $120MM
2024-09-25 - Vivakor said it is buying Endeavor Crude and related companies, which have a series of long-term strategic partnerships with customers in the Permian Basin, Eagle Ford Shale and the STACK play.
APA Executive: After Recent Divestitures, ‘More to Come’
2024-08-19 - At the EnerCom Denver conference, an APA Corp. executive didn’t address reports that APA was shopping up to $1 billion in Permian Basin assets, but he said the company is looking to shed $2 billion in term loans associated with its purchase of Callon Petroleum.
One Equity Partners to Acquire Gas Turbine Services Company EthosEnergy
2024-08-28 - One Equity Partners will buy EthosEnergy, which provides services to power generation and industrial customers operating industrial gas turbines.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.