Chesapeake expands undeveloped Barnett shale acreage

By OGJ editors
HOUSTON, Jan. 9 -- Chesapeake Energy Corp. plans to acquire 8,600 net undeveloped leasehold aces in Barnett shale in Tarrant and Johnson counties from Paloma Barnett LLC.

Financial terms of the deal were not disclosed. Chesapeake now has 255,000 net acres of leases in the Barnett shale, and the company's drilling inventory in the play has expanded to more than 2,800 net locations.

In addition, Chesapeake announced a land services agreement in which Paloma agreed to work on an exclusive basis on Chesapeake's behalf in certain areas of Tarrant County to acquire leases.

The arrangement complements similar LSA agreements for the Barnett shale that Chesapeake has with Dale Property Services LLC, Four Sevens Oil Co., Ltd., and Western Production Co. (OGJ Online, Nov. 8, 2007).

Related Articles

Chesapeake mulls spinoff, sale of oil field services division

02/24/2014 Chesapeake Energy Corp. reported it is considering a potential spin-off to Chesapeake shareholders or an outright sale of Chesapeake Oilfield Servi...

Chesapeake Appalachia settles federal water pollution charges

12/19/2013 A Chesapeake Energy Corp. subsidiary agreed to spend $6.5 million to restore 27 sites damaged by unauthorized discharges of fill material into stre...

Chesapeake Midstream names chief operating officer

12/16/2009 Chesapeake Midstream Partners LLC (CMP), the recently formed 50-50 partnership of Global Infrastructure Partners LP and Chesapeake Energy Corp., na...

ExxonMobil to boost unconventional focus by acquiring XTO

12/14/2009 ExxonMobil Corp. has agreed to buy XTO Energy Inc. in an all-stock deal valued at $41 billion that will be part of a strengthened focus by the ener...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected