Chesapeake Energy Corp. (NYSE: CHK) detailed several recent financial updates on July 29.

It entered a $450 million agreement with RKI Exploration & Production LLC to exchange nonoperated interests in about 440,000 gross acres in southeastern Wyoming’s Powder River Basin. RKI will receive Chesapeake’s interest in 67 gross wells, and about 137,000 net acres, along with a 22% average working interest in the basin’s northern portion, the company added. RKI operates this portion, Chesapeake noted.

Chesapeake will receive RKI’s interest in 186 gross wells, and about 203,000 acres, along with a 48% average working interest in the basin’s southern portion, the company said. Chesapeake operates this portion, the company added.

The transaction is scheduled to close in August, Chesapeake noted.

An increase of about 4,500 barrels of oil equivalent per day is expected from the transaction, the company said, adding that its holdings in the Powder River Basin will increase by 66,000 net acres.

The company also recently agreed to buy back all of the outstanding preferred shares belonging to its subsidiary CHK Utica LLC from third-party shareholders, Chesapeake said. It will pay about $1.3 billion to buy back about 1.1 million shares in an offer scheduled to close July 29, the company added.

The share buyback and the Powder River Basin acreage exchange should be funded through available liquidity, the company said, noting that this includes about $1.5 billion of “unrestricted” cash.

Regarding commodity prices, gas price differentials were weaker “relative to the Henry Hub benchmark natural gas price” recently, the company said.

The average gas price for 2014’s second quarter is estimated to be $21.03 per barrel (bbl), lower than first-quarter 2014’s $29.23/bbl, the company said.

The average oil price for 2014’s second quarter is estimated to be $85.23/bbl, higher than first-quarter 2014’s $85.08/bbl, the company added.

Chesapeake Energy Corp. is based in Oklahoma City.