Chesapeake Energy selling Oklahoma acreage to Chinese company
Chesapeake Energy Corp. has struck a $1.02 billion joint venture with a Chinese oil company for a stake of its acreage in northern Oklahoma’s Mississippi Lime play.
Chesapeake Energy Corp. on Monday took another step toward closing a multibillion dollar funding gap.
Chesapeake announced a $1.02 billion joint venture with Sinopec International Petroleum Exploration and Production Corp. for a stake in its acreage in northern Oklahoma’s Mississippi Lime play.
Chesapeake will get the bulk of the money in cash when the deal closes.
Oppenheimer analyst Fadel Gheit said the deal is not structured like a typical joint venture, which usually...
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