Chesapeake Energy Corporation Announces Completion of $2.32 Billion Utica Shale Joint Venture Transaction with Total E&P USA, Inc.

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Source: phx.corporate-ir.net --- Monday, January 02, 2012
OKLAHOMA CITY, Jan 03, 2012 (BUSINESS WIRE) --Chesapeake Energy Corporation (NYSE:CHK) today announced the completion of a joint venture ("JV") transaction with Total E&P USA, Inc., a wholly owned subsidiary of Total S.A. (NYSE:TOT, FP:FP) ("Total"), whereby Total acquired an undivided 25% interest in approximately 619,000 net acres in the liquids-rich area of the Utica Shale. Of the JV acreage, approximately 542,000 net acres were contributed to the JV by Chesapeake and approximately 77,000 net acres were contributed by Houston-based EnerVest, Ltd. and its affiliates ("EnerVest"). The JV area covers all or a portion of 10 c... ...

Source: http://phx.corporate-ir.net/phoenix.zhtml?c=104617&p=RssLanding&cat=news&id=1643884

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