http://stateimpact.npr.org/pennsylvania/2013/04/02/chesapeake-looks...
According to Reuters, the company will market acreage in the Marcellus region, in order to focus more on its core drilling operations in Texas:
Investors took control of the Chesapeake board in June. Reining in spending is now a top priority for the company, which faces a gap of about $4 billion this year between its expected cash flow and capital expenditures.
To help cover that shortfall, Chesapeake has pledged to sell up to $7 billion in oil and gas properties this year. So far, it has closed or signed deals totaling $1.5 billion, Dixon said, adding that there has been good interest in some of the company’s smaller asset packages.
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I'm not sure how to get to page 63..can you add the link.
The only documents I can find are from 2011 and it was Ohio Buckeye and 3 CHK affiliates transferring leases TO CHK Utica, not to Ohio Buckeye. A link would be nice if this is true.
its on there -i searched industry and my name -- came up page 63 - http://www.searchiqs.com/pabea/UserFrame.htm
try your name if you have a lease
OK, Here's what it is:
First off this is a restatement/amendment to the original assignment of leases FROM 3 CHK companies and Ohio Buckeye TO CHK Utica. So these were NOT sold to Ohio Buckeye, but Ohio Buckeye sold 72% of their interest to CHK Utica, originally filed in 2011.
I believe OHio Buckeye is part of the company that originally signed up Beaver County, and when they sold all their leases to CHK they kept a certain amount of interest and in 2011 they sold 72% of that part of the leases they kept. I don't know this for a fact tho.
Hope this helps.
Any rumors of this Beaver county acreage sale..mine is that CHK was asking to much for the acreage..but RRC wants to buy..
I've heard no rumors along these lines, but one never knows what they are up to. Like they say: Watch what they do, not what they say.
I wonder... My lease was signed with Fortuna (now known as Talisman) in 2007 then, 6 months later, Range bought it, then, in 2011 CHK took over, drilled in 2012 and placed into a unit in Hancock County 1 mi west of Hanover TWP, BC on Hardins Run.
Seitel is conducting 3D seismic for a large area in BC south of the river with both CHK and RRC leases but I'm hearing that RRC is paying for the shoot?
Good advice from Craig... I heard another operator was interested in Hancock recently and then the local attorney has not returned anyone's calls! "Watch what they do, not what they say." - Wise words
It's funny that you mention that you heard RRC is paying for the shoot when just today a customer of ours that lives in the middle of the Seitel shoot area said that a Seitel employee told him that Shell had paid mucho dollars for the shoot as well. I wonder how much this shoot will cost and is it possible all 3 companies chipped in to pay for it?
When Seitel talked to me they showed me verification letters from RRC and CHK that they were paying Seitel for doing the seismic ..Shell wasn't mentioned but that was last summer things seem to change fast.
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