Share “Permian Deals at a glance”

Permian Deals at a glance

Modified: September 12, 2012 at 6:14 pm •  Published: September 13, 2012

At a glance

Permian deals

Chesapeake Energy Corp. is selling a chunk of its holdings in the Permian Basin in three separate deals.

Chesapeake announced the deals Wednesday without providing any specific details beyond identifying the buyers, who will pay a total of about $3.3 billion.

A subsidiary of Royal Dutch Shell is acquiring Chesapeake's assets in the southern Delaware Basin. Shell said it is looking to increase its industry-leading holdings in liquids-rich shale plays with the $1.935 billion deal.

Chevron Corp. is buying Chesapeake's acreage in the northern part of that basin. The purchase price was not disclosed, but Chevron said it is acquiring about 246,000 net acres.

“This acquisition in a premier emerging play in the Permian Basin grows our significant leasehold position there,” said George Kirkland, Chevron's vice chairman. “These early-in-life, liquids-rich unconventional assets have the potential to be significant future contributors to Chevron's robust North American operations.”

The third buyer is Houston-based Enervest Ltd, which is acquiring producing assets in the Midland Basin. That deal was disclosed in Chesapeake's Aug. 7 earnings call.

Chesapeake, which holds about 1.5 million acres in the Permian, will retain about 470,000 net acres after the deals for future sale or development, according to Wednesday's announcement.


  1. 1
    Police find hatchet, protective gear in house where Bever family members were slain
  2. 2
    Oklahoma City police: Two arrested after woman sexually assaulted in work freezer
  3. 3
    OU football fans among Top 10 ... in grammar
  4. 4
    Wrestling legend Jimmy 'Superfly' Snuka charged in girlfriend's 1983 death
  5. 5
    Pop culture: Mike Tyson added to Wizard World Tulsa guest list
+ show more


× Trending news Article