Chesapeake Energy Plans to Sell Oil and Gas Assets in Ohio to Reduce Long-Term Debt – Deal Analysis from GlobalData

Published : June 2012
No. of Pages : 6

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Chesapeake Energy Plans to Sell Oil and Gas Assets in Ohio to Reduce Long-Term Debt – Deal Analysis from GlobalData

Summary

Chesapeake Energy Corporation, an oil and gas exploration and production company, intends to sell certain oil and gas assets in Utica/Point Pleasant trend in Ohio.

The assets include 337,481 net acres (510,847 gross) in 19 counties with rights limited to the Cincinnati, Utica, Point Pleasant and Trenton intervals. Most of the acreage in question lies in the wet gas or oil windows of the play. Target depths range from 2,000 to 7,000 feet with a combined Utica/Point Pleasant thickness ranging from 100 to 300 feet. Of the total acreage, 270,484 net acres (80%) are held by production.

Meagher Energy Advisors has been retained as exclusive advisor by Chesapeake Energy for the divestment of its assets.

The transaction will have an effective date of July 1, 2012. The bidding is due to start on July 11, 2012 and is expected to completed on August 17, 2012.

Scope

- Rationale behind the planned asset sale by Chesapeake Energy Corporation.
- Similar asset divestments taken up by Chesapeake.
- Geography covered - the US

Reasons to buy

- Develop a sound understanding of the major asset divestmnets and planned asset divestments undertaken by Chesapeake Energy Corporation
- Identify the rationale for Checapeake to divest from its oil and gas assets in Ohio
- To understand key issues pertaining to current financial challenges faced by Chesapeake Energy

1 Table of Contents
1 Table of Contents 1
1.1 List of Tables 1
1.2 List of Figures 1
2 Chesapeake Energy Plans to Sell Oil and Gas Assets in Ohio 1
2.1 Deal Overview 1
2.2 Deal in Brief 1
2.3 Chesapeake’s Asset Divestment Aims to Reduce its Debt Burden and Ease its Cash Flow Situation 1
2.4 Chesapeake is Switching Focus from Shale Gas Plays to Oil Liquids Plays 2
2.5 Chesapeake has been Engaging in Asset Divestments as a key Strategy for Cash Generation 3
2.6 Deal Financials and Valuations 4
3 Appendix 5
3.1 Sources 5
3.2 Methodology 5
3.3 Contact Us 6
3.4 Disclaimer 6

1.1 List of Tables
Table 1: Planned Asset Sales of Chesapeake Energy Corporation, 2012 3
Table 2: Completed Asset Sales of Chesapeake Energy Corporation, 2008-2011 3
Table 3: Companies Involved 4
Table 4: Advisor Information 4
Table 5: Target Information 4
Table 6: Vendor Information 5

1.2 List of Figures
Figure 1: Chesapeake Energy Corporation, Cash Flow Margin, %, 2006-2011 2
Figure 2: Chesapeake Energy Corporation, Long-term Debt, $m, 2006-2012 (Targeted) 2
Figure 3: Chesapeake, Share of Oil and Gas in Total Production, %, 2006-2011 2
Figure 4: Chesapeake, Ohio Shale Assets Under Sale Consideration, 2012 4

Chesapeake Energy Plans to Sell Oil and Gas Assets in Ohio to Reduce Long-Term Debt – Deal Analysis from GlobalData

Published By: GlobalData

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