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Chesapeake Energy sells Utica acreage, wells to Ohio company

Published 11/17/2016, 05:39 PM
Updated 11/17/2016, 05:39 PM
Chesapeake Energy sells Utica acreage, wells to Ohio company
  • Chesapeake Energy (NYSE:CHK) agrees to sell a package of assets in the Utica Shale play to Ohio-based Geopetro for an undisclosed sum, in CHK's latest move to focus its broad U.S. onshore portfolio.
  • The assets include 27 wells and 37K net acres in northeast Ohio and western Pennsylvania; most of the wells are natural gas producers while one is producing oil.
  • CHK continues to execute asset sales as it reduces its debt; it recently sold 882K net acres and 5,600 wells in the Devonian Shale of West Virginia and Kentucky to an undisclosed buyer.


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