Chesapeake to buy more Barnett shale acreage

Chesapeake Energy Corp. plans to acquire 2,000 net undeveloped leasehold acres in Barnett shale in Tarrant County, Tex., from Western Production Co.

Nov 8th, 2007

By OGJ editors
HOUSTON, Nov. 8 -- Chesapeake Energy Corp. plans to acquire 2,000 net undeveloped leasehold acres in Barnett shale in Tarrant County, Tex., from Western Production Co.

Financial terms of the deal were not disclosed. The acquisition would bring Chesapeake's leasehold acres in the Barnett shale to 235,000 acres.

The Oklahoma City company's drilling inventory in the play has expanded to over 2,700 net locations.

In addition, Chesapeake announced a land services agreement in which Western's affiliate, Axia Land Services LLC, agreed to work exclusively in Tarrant County to acquire leases on Chesapeake's behalf.

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