Chesapeake to sell Midland Permian assets to Enervest

By Noah Brenner

 09 August 2012 22:59 GMT

US player Chesapeake Energy has signed a deal to sell its pro­ducing assets in the Midland area of the Permian basin to Enervest for an undisclosed sum, writes Noah Brenner.

The package was one of three the US shale giant was offering as it seeks to monetise its positions in the Permian to raise cash to fund its capital budget.

Even after the sale, Chesapeake still has three packages of Permian assets on the market because Enervest only wanted its producing properties in the Midland basin and not its undeveloped acreage.

“We will have our remaining acreage in the Midland basin to either develop ourselves or more likely to go through another process and look for a home for it,” said Aubrey McClendon,…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index