Chesapeake puts some DJ basin assets on sales block

Chesapeake Energy Corp., Oklahoma City, has put 503,863 net acres of its oil and natural gas holdings in the Denver-Julesberg basin up for sale. The acreage includes the Niobrara shale play of northern Colorado.

Paula Dittrick

May 24, 2012

Meagher Energy Advisors issued a prospectus on behalf of Chesapeake saying the acreage is separated into five areas. The holdings are spread across various counties in Colorado and Wyoming, including the Colorado counties of Arapahoe and Weld.

Chesapeake is selling various assets in efforts to raise up to $11.5 billion to help reduce debt.

Previously, Chesapeake announced a $4 billion unsecured term loan syndicated to a large group of institutional investors (OGJ Online, May 15, 2012).

About the Author

Paula Dittrick

Senior Staff Writer

Paula Dittrick has covered oil and gas from Houston for more than 20 years. Starting in May 2007, she developed a health, safety, and environment beat for Oil & Gas Journal. Dittrick is familiar with the industry’s financial aspects. She also monitors issues associated with carbon sequestration and renewable energy.

Dittrick joined OGJ in February 2001. Previously, she worked for Dow Jones and United Press International. She began writing about oil and gas as UPI’s West Texas bureau chief during the 1980s. She earned a Bachelor’s of Science degree in journalism from the University of Nebraska in 1974.