COMPANY NEWS: BP, Chesapeake establish Fayetteville shale JV

BP America and Chesapeake Energy Corp. plan to establish a joint venture that will produce 180 MMcfd of gas equivalent from shale assets in Arkansas.According to a letter of intent signed Sept. 2, BP will pay $1.9 billion for a 25% interest in Chesapeake’s Fayetteville shale assets. The assets cover 540,000 net acres, which the companies believe could support the drilling of as many as 6,700 future horizontal wells. Following the deal’s completion, BP will own 135,000 net acres and Chesapeake will own 405,000 net acres.In other recent company news: TNK-BP Ltd., long under fire from its Russian backers, said the firm’s executive vice-president for downstream Tony Considin...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected