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Chesapeake Slips In Another Sale, Divesting Marcellus Acreage For $500 Million

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By Darren Barbee, Hart Energy
December 19, 2013

Chesapeake Energy (NYSE: CHK) has parted with an estimated 75,000 Marcellus acres for $500 million, a continuation of the company’s noncore divestiture program.

Chief Oil & Gas of Dallas, with its working interest partners Enerplus and Tug Hill, said on Dec. 17 that it had acquired MKR Holdings LLC from Chesapeake Appalachia LLC, a subsidiary of Chesapeake.

The assets produce about 130,000 cubic feet per day (Mcf/d) and about 40 operated wells are waiting on completion or pipeline. Some acreage is undeveloped. The acquisition includes leasehold in Bradford, Lycoming, Sullivan, ...

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