Key Developments: Chesapeake Energy Corp (CHK.N)
24.95USD
1 Aug 2013
$1.65 (+7.08%)
$23.30
$24.14
$25.20
$24.10
5,334,376
2,238,632
$25.20
$16.23
Latest Key Developments (Source: Significant Developments)
Chesapeake Energy Corp Raises Midpoint Of Prior FY 2013 Production Guidance-Conference Call
Chesapeake Energy Corp announced that the Company is raising the midpoint of fiscal 2013 oil production guidance by 1 million barrels. Full Article
SemGroup Corporation Closes Acquisition of Mississippi Lime Midstream Assets from Chesapeake Energy Corporation
SemGroup® Corporation announced that it has completed its previously disclosed acquisition of the gas gathering and processing assets owned by Chesapeake Energy Corporation (NYSE:CHK), located in the Mississippi Lime play for $300 million in cash. Approximately $125 million of additional capital expenditures will be required for the completion of the Rose Valley plants I and II, as well as additional capital related to future well connects. Full Article
Chesapeake Energy Corp Announces Sale Of Northern Eagle Ford and Haynesville Shale Assets For Aggregate Proceeds Of $1 Billion
Chesapeake Energy Corporation announced the execution of agreements to sell assets in the Northern Eagle Ford Shale and Haynesville Shale to EXCO Operating Company, LP a subsidiary of EXCO Resources, Inc. for aggregate proceeds of approximately $1.0 billion, of which approximately 90% will be received upon closing. Payment of the remaining proceeds will be subject to customary post-closing contingencies. The transactions, which are subject to certain closing conditions, are expected to close in the 2013 third quarter. Full Article
Chesapeake Energy Corp Announces Closing Of Mississippi Lime Joint Venture With Sinopec International Petroleum Exploration and Production Corp
Chesapeake Energy Corp announced that it completed its previously announced Mississippi Lime joint venture with Sinopec International Petroleum Exploration and Production Corporation (Sinopec) on June 28, 2013. The company sold a 50% undivided interest in approximately 850,000 acres in northern Oklahoma for total consideration of $1.02 billion in cash, of which approximately 93% was received upon closing. Payment of the remaining proceeds is subject to customary post-closing contingencies. Jefferies & Company, Inc. served as financial advisor to Chesapeake on the joint venture. Full Article
Chesapeake Energy Corp Declares Quarterly Dividends
Chesapeake Energy Corp announced that its Board of Directors has declared a $0.0875 per share quarterly dividend that will be paid on July 31, 2013 to common shareholders of record on July 15, 2013. Full Article
Gastar Exploration Ltd Announces Closing Of Mid-Continent Acquisition, Share Repurchase And Litigation Settlement With Chesapeake Energy Corp
Gastar Exploration Ltd announced that it has closed its previously announced acquisition of proven reserves and undeveloped leasehold interests in Kingfisher and Canadian Counties, Oklahoma from Chesapeake Energy Corp (Chesapeake), repurchase of 6,781,768 outstanding shares of the Company's common stock currently held by Chesapeake and settlement of all litigation. The purchase price of $84 million, effective October 1, 2012, is subject to adjustment for customary due diligence items. The Mid-Continent acquisition, share repurchase and litigation settlement were funded with proceeds from the $200 million private placement of debt securities closed on May 15, 2013. Full Article
Chesapeake Energy Corp Names Robert Douglas Lawler Chief Executive Officer
Chesapeake Energy Corporation announced that Robert Douglas (Doug) Lawler will join Chesapeake as Chief Executive Officer and a member of the Board of Directors, effective June 17. With Mr. Lawler assuming the CEO position at Chesapeake, the Office of the Chairman will be discontinued and Archie W. Dunham, Steven C. Dixon and Domenic J. Dell`Osso Jr. will continue to serve in their roles as non-executive Chairman of the Board, Executive Vice President of Operations and Geosciences and Chief Operating Officer, and Executive Vice President and Chief Financial Officer, respectively. Full Article
Southwestern Energy Co Announces Closing Of Acquisition Of Marcellus Shale Properties From Chesapeake Energy Corp
Southwestern Energy Co announced that it has closed its recently announced acquisition of approximately 162,000 net acres in the Marcellus Shale in Pennsylvania. The properties were acquired from Chesapeake Energy Corp and its partner for approximately $93 million, excluding purchase price adjustments. Southwestern has financed the acquisition with its revolving credit facility. Full Article
MarkWest Energy Partners LP Announces Acquisition Of Granite Wash Assets From Chesapeake Energy Corp's Subsidiary In Texas Panhandle and Western Oklahoma
MarkWest Energy Partners LP announced the execution of definitive agreements to acquire 100% of the ownership interests of certain midstream assets in the Anadarko Basin from a wholly owned subsidiary of Chesapeake Energy Corp, for consideration of $245 million in cash. The transaction closed simultaneously with the execution of the agreements. The acquired assets consist of a 200 million cubic feet per day (MMcf/d) cryogenic gas processing plant (Buffalo Creek Plant) and 22 miles of gas gathering pipeline in Hemphill County, Texas, and approximately 30 miles of rights-of-way associated with the future construction of a high-pressure trunk line. Additional assets consist of an amine treating facility and a 5 mile gas gathering pipeline in Washita County, Oklahoma. The high-recovery Buffalo Creek Plant and associated trunk line are currently under construction and are expected to be placed into service in early 2014. Producing formations in the Anadarko Basin associated with these assets include the highly prolific Granite Wash and Hogshooter formations, and multiple other attractive liquids-rich zones. Full Article
Semgroup Corp To Acquire Mississippi Lime Midstream Assets From Chesapeake Energy Corp For $300 Million
Semgroup Corp announced that it has executed a definitive agreement to acquire the equity interests of Mid-America Midstream Gas Services, L.L.C., a wholly owned subsidiary of Chesapeake Energy Corporation, which is the owner of gas gathering and processing assets in the Mississippi Lime play for $300 million in cash. The transaction is expected to close by the third quarter of 2013 and is subject to certain regulatory approvals and closing conditions. Full Article
Chesapeake profit tops Street estimate, review underway
- Chesapeake Energy Corp's new Chief Executive Doug Lawler on Thursday said a comprehensive review of the company's partnerships and assets is underway as the second largest U.S. natural gas provider seeks to simplify its structure and improve financial discipline.

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