Bloomberg: Chesapeake enlists Evercore to sell Eagle Ford assets
Wednesday, August 31, 2022
Chesapeake Energy has enlisted Evercore to sell its Eagle Ford Shale assets in an auction expected to be held after Labor Day, according to Bloomberg.
The company’s oil-rich Eagle Ford assets include 610 net acres with a net production of 88,000 boe per day at the end of the second quarter.
The sales are expected to generate billions of dollars, which will be used to further Chesapeake’s plans to return capital to investors and buy back $670 million of common shares.
The company intends to shift its focus from oil production and focus on its assets in the natural-gas-rich Haynesville Shale in Louisiana and Marcellus Shale in Pennsylvania.
Learn more: Seeking Alpha > Chesapeake Energy taps Evercore to sell Eagle Ford assets — Bloomberg
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