Chesapeake reaches deal to sell Eagle Ford assets for $1.4 billion

Chesapeake reaches deal to sell Eagle Ford assets for $1.4 billion

Friday, January 20, 2023 by Sara Welch

Chesapeake Energy Corp. has agreed to sell its Upper Eagle Ford Assets for 1.425 billion to WildFire Energy LLC, according to Natural Gas Intelligence.

The sale includes 377,000 net acres and 1,350 wells across Chesapeake’s Brazos Valley operating area, which the company absorbed in a 2018 deal when it acquired WildHorse Resource Development Corp. for $4 billion in cash and stocks.

The sale is part of the company’s overall strategy to divest a 610,000 net acre position across the Eagle Ford in East and South Texas, shifting its focus from oil to natural gas.

Learn more: Natural Gas Intelligence > Chesapeake Narrows Lower 48 Focus by Cutting Eagle Ford Stake in $1.4B Deal

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