Chesapeake wants to sell more Oklahoma property

Chesapeake listed about 28,000 acres in three western Oklahoma counties with broker Meagher Energy Advisors.
BY JAY F. MARKS jmarks@opubco.com Published: October 12, 2012
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Chesapeake Energy Corp. is looking to sell another piece of its acreage in Oklahoma.

Chesapeake listed about 28,000 acres in three western Oklahoma counties with broker Meagher Energy Advisors. The acreage is part of the Granite Wash and Hogshooter horizontal plays, but spokesman Michael Kehs said is it separate from the Hogshooter acreage the company spotlighted in June.

The sale area includes 113 producing wells, with net sales of 765 barrels of oil, 684 barrels of natural gas liquids and 9,935 thousand cubic feet of natural gas a day over the past year.

Chesapeake also is selling acreage in southern Oklahoma, Michigan, Ohio, Colorado and Wyoming through Meagher as it looks to raise money to avoid a looming budget crunch.

Chesapeake has sold about $11.6 billion worth of assets this year, with a goal toward bringing in $14 billion to fund its ongoing transformation from land acquisition to asset harvest.


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