Chesapeake Sells Leases in Fayetteville Shale

Sep 03, 2008

Chesapeake Energy announced they recently sold 25 percent of their interest in the Fayetteville Shale to BP America for almost $2 billion dollars. With the deal, BP now owns roughly 135,000 acres of leases in the region; Chesapeake still controls over 400,000 acres.

Last month Chesapeake sold all of its Arkoma Shale assets in Oklahoma to BP for $1.7 billion. The Arkansas News Bureau is reporting Chesapeake has told it’s investors that the company's next investment partner would likely be a big company, "not based in the United States”.

Story: Searcy Radio Group