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CHK Chesapeake Energy Corporation

86.67
-0.12 (-0.14%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Chesapeake Energy Corporation NASDAQ:CHK NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.12 -0.14% 86.67 72.92 101.77 87.16 85.08 86.61 2,836,734 05:00:00

Total to Acquire Chesapeake's 75% of Barnett Shale

09/09/2016 8:11am

Dow Jones News


Chesapeake Energy (NASDAQ:CHK)
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From May 2019 to May 2024

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    By William Horobin 
 

PARIS--France's Total SA (TOT) said Friday it is exercising its preemption right to acquire Chesapeake's 75% share in the jointly held Barnett Shale, an operating area with production of around 65,000 barrels of oil a day in 2016.

Under the terms of the transaction, Chesapeake will pay $334 million to Williams, the gatherer and processor of 80% of the gas from Barnett Assets.

Total will pay $420 million to Williams to restructure the gathering agreement and a further $138 million to be released from three midstream capacity reservation contracts.

 

Write to William Horobin at william.horobin@wsj.com

 

(END) Dow Jones Newswires

September 09, 2016 02:56 ET (06:56 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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