Enervest chief executive John Walker appeared to confirm rumours that Total was the unnamed partner today on the sidelines of an industry event in Houston.
“Chesapeake asked us to keep it a secret,” he told Upstream.
But when asked if unconfirmed reports that Total was the partner were correct, he smiled and replied “probably”.
In November, Chesapeake announced it had signed a letter of intent for the joint venture, which gives the partner a 25% interest in 650,000 net acres — 162,500 total acres — in the wet-gas window of the Utica play across 10 counties at a price of about $15,000 per acre.
Enervest
