July 26, 2018 / 8:40 PM / 3 months ago

Chesapeake Energy plans to sell Utica Shale stake for $2 bln

July 26 (Reuters) - Oil and gas producer Chesapeake Energy Corp said on Thursday it plans to sell its stake in the Utica Shale region of Ohio to privately owned Encino Acquisition Partners for about $2 billion.

The purchase price includes a $100 million contingent payment based on future natural gas prices.

Chesapeake also said its 2019 oil production is expected to grow about 10 percent from 2018, adjusted for asset sales, with additional oil growth anticipated in 2020. (Reporting by Anirban Paul in Bengaluru; Editing by Shounak Dasgupta)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below