Analysts were shocked by the price tag of Chesapeake's 50% tie-up with the Chinese giant as it came in far below the estimated value of Chesapeake's assets in the tight-oil play.
The $1.02 billion deal valued Chesapeake's acreage at about $2400 per acre; some analysts had valued it at close to $3400 per acre.
Chesapeake has been trying for more than a year to monetise its assets in emerging plays such as the Mississippi Lime, as the company faces a severe cash shortage and an unwieldy debt load.
