Zman’s Energy Brain ~ oil, gas, stocks, etc…

Archive for July 1st, 2008


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 [...]

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