Did Chesapeake get a buyer?

  Some of you know about Chesapeake's sale of some of its Ohio leases.:

LAND

  • 337,481 net acres / 510,847 gross acres
  • Limited to the Cincinnati, Utica, Pt. Pleasant and Trenton intervals
  • 270,484 net acres HBP by shallower zones (Queenston & Clinton) or held by storage

The sale closing date was Friday 17th of Aug 2012 see http://www.meagheroil.com/resources/project/Chesapeake%20Utica-Poin...

So anyone have the scoop on this?

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Permalink Reply by Frank Nesmith on August 18, 2012 at 10:57am

Bids were to be in by the close of business yesterday is all I know.

2s72s0k9mm8gdPermalink Reply by 2s72s0k9mm8gd on August 18, 2012 at 11:13am

Somehow they missed filing Production reports for the first half of this year with the PA DEP too........Is there ever any good news from them lately? Are they beginning to evaporate?

3uq96odaochmjPermalink Reply by 3uq96odaochmj on August 18, 2012 at 4:49pm

probably went to the Chinese.

Permalink Reply by Jim Litwinowicz on August 18, 2012 at 5:16pm

It will probably take several days to several weeks for them to review all the offers in detail. I imagine some complicated ventures may arise out of these deals. They may wait until any deals are finalized before making anything public.  As they are a publicly traded stock, they also have SEC regs to consider.

Permalink Reply by Markus on May 21, 2014 at 10:59am

Wanted to revisit this one - the listing at www.meagheradvisors.com is now gone.  

I do not think that the acreage ever sold.  

I am wondering now if they changed their minds and are not planning to sell the blocks at all, particularly the acreage in the ten southern counties, given what we are hearing about evolving technologies in the oil window and success with wells in the southern trend.

Does anyone know anything for an update?

The original story can be found here: http://finance.yahoo.com/news/chesapeake-sell-utica-assets-18022143...

More specific: The listing was for 337,481 net acres....."The to-be sold assets include drilling rights in 19 Ohio counties that are mainly situated to its north-east and south-east. Northeast Ohio counties comprise Huron, Lorain, Ashland, Wayne, Summit, Geauga, Portage, Asthabula and Trumbull counties. The southeastern counties are Licking, Muskingum, Fairfield, Perry, Morgan, Washington, Athens, Hocking, Vinton and Meigs."

Permalink Reply by James Vanderink on May 21, 2014 at 12:40pm
Good question Markus. Just like Devon's acreage never sold and is not listed anymore. No takers I guess.

http://www.scotiawaterous.com/devon_2013_utica/devon_utica_intro_ma...


Interest development with the latter company.

http://www.ugcenter.com/Technology/GE-Devon-Collaborate-Unconventio...

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