Chesapeake Energy its interests in the Barnett shale in north Texas - the birthplace of the shale revolution - to Saddle Barnett Resources.
CHK says leaving the gas fields will cut shipping and processing costs by $715M by the end of 2017, eliminate ~$1.9B in long-term pipeline agreements, increase operating income through 2019 by $200M-$300M annually, and increase the PV-10 of its proved reserves by ~$550M.
As part of the deal, CHK will pay $334M to Williams Partners to end their current gathering agreement, projected MVC shortfall payments and fees pertaining to the Barnett Shale assets, with Saddle Resources also expected to pay an unspecified additional sum.
[…] The Barnett deal includes ~215K net developed and undeveloped acres and ~2,800 operated wells
Quand Chesapeake commence à vendre les bijoux de famille pour sauver les meubles…?