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May 5, 2008
Chesapeake Sells 2nd VPP For $623MM

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An undisclosed buyer has acquired long-lived producing assets in Texas, Oklahoma and Kansas in a volumetric production payment (VPP) from Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) for $622.7 million.


The VPP included proved reserves of approximately 94.3 billion cubic feet equivalent to be produced over 11 years for $6.63 per thousand cubic feet. Current net production is approximately 47 million cubic feet per day.

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