Chesapeake
Closes deal
Chesapeake Energy Corp. announced Tuesday it has closed its joint venture within the Marcellus Shale natural gas field with StatoilHydro. Chesapeake sold about a third of its interest in 1.8 million acres to the Norwegian company for about $3.4 billion. The Oklahoma City-based company received $1.25 billion for the deal. Also, StatoilHydro will pay most of Chesapeake’s drilling and completion costs in the field the next three years.
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