01
Jul
CHK - A Swing For The Fence That Worked, Still First Inning Here
CHK & PXP Announce Haynesville JV
Anatomy of the deal:
Plains Exploration (PXP) Pays Chesapeake (CHK) $1.65 billion for 20% of CHK's Haynesville Shale (H.S.) leasehold.
This amounts to 110,000 acres of CHK's now 550,000 acre H.S. position,
On the surface this equates to $15,000 per acre,
But PXP is carrying 50% of CHK's drilling and completion costs up [...]