According to Cleveland.com, Chesapeake Energy Corp., the largest stake holder in Ohio’s Utica shale, is trying to sell drilling leases in Stark and Portage counties.

Chesapeake Energy Corp. owns about 1.3 million acres of lease rights in Ohio, more than any other oil and gas company leasing the Utica.

There’s speculation that Chesapeake could be trying to raise money due to a $20 billion shortfall in 2012.

Read it:

“…during an April 1 conference call to announce new leadership for the company after the departure of company founder Aubrey McClendon in March, acting Chief Executive Officer Steve Dixon said Chesapeake wanted to raise between $4 billion and $7 billion this year by selling assets such as drilling leases.”

 The offering appears on Meagher Energy Advisors. 

» Via: Cleveland.com › Chesapeake Energy is trying to sell rights to more than 94,000 acres in Ohio