Point of View: Chesapeake expands into ‘underexplored’ Appalachian basin

10/24/2005
Chesapeake Energy Corp., steadily expanding beyond its traditional Midcontinent holdings, recently made a geographic leap by announcing plans to enter the Appalachian basin by acquiring Columbia Natural Resources LLC.Chesapeake is buying CNR from Triana Energy Holdings LLC for $2.95 billion, including the assumption of $75 million in debt and liabilities related to CNR’s prepaid sales agreement and hedging positions (OGJ, Oct. 10, 2005, p. 35).The transaction is expected to close in mid-December. Afterward, Chesapeake will be the fifth largest US gas producer and the second largest independent US gas producer.“We should have the highest, or close to the highest, organic growth...
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