Chesapeake selling acreage in Marcellus and Utica

Chesapeake plans to focus on drilling in areas it characterizes as "core," including the Eagle Fordin south Texas. The Oklahoma City-based company is marketing acreage in the Marcellus and Utica formations in Pennsylvania and Ohio that it considers less valuable, according to a filing with the U.S. Securities and Exchange Commission.

http://www.reuters.com/article/2013/04/01/us-chesapeake-spending-id...

Views: 1510

▶ Reply to This

Replies to This Discussion

Permalink Reply by Joseph-Ohio on April 2, 2013 at 3:09pm

I'm thinking that they would view any of their holdings (that are drilled, producing resources that can be sold and are being sold) as more valuable (under their apparent circumstances) .
Just my opinion.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on April 2, 2013 at 3:11pm

Lets read it again and see if we can interpret what the author is trying to tell us.

 

"Chesapeake plans to focus on drilling in areas it characterizes as "core," including the Eagle Ford in south Texas. The Oklahoma City-based company is marketing acreage in the Marcellus and Utica formations in Pennsylvania and Ohio that it considers less valuable, according to a filing with the U.S. Securities and Exchange Commission".

 

No, there's no definite indication that Ohio and PA won't be drilled by CHK only that some less valuable areas will be sold off.

Don't sell out to the mineral buyers that sent you that recent flyer in the mail. There are people who will profit from your land if they can convince you that we are not going to be drilled and produced.

Even if CHK sells, someone else will drill. "There's oil in them thar hills".  

Permalink Reply by Joseph-Ohio on April 2, 2013 at 4:08pm

My only point remains that apparently there are areas that CHK considers less valuable to them than their "core" areas (as they view things at this point in time and as they must consider all of the negatives in their game plan that seemed to have surfaced in the not too distant past).

I'm also thinking the quicker that they can sell their "non-core" acreage leaseholds the better as far as getting the ball rolling again (especially in the northeast fariway).  Of course it may already be sold but just un-announced.

 

Permalink Reply by Clinton44 on April 2, 2013 at 4:32pm

Maybe they are selling to pay what they owe these royalty interest owners

http://gomarcellusshale.com/forum/topics/another-good-one

 

Permalink Reply by Tim Tarr on April 3, 2013 at 7:28am

"Core" is that defined as: Where we (CHK) have money (can borrow) to drill?

CHK is in a cash squeeze. The sharks can smell the blood in the water! An expired Lease is worthless.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service