Current CHK Stock Info

In a short but telling news release, Chesapeake Energy (ticker: CHK) announced Sinopec will purchase a 50% undivided interest in CHK’s 850,000 net acres of the Mississippi Lime play in northern Oklahoma. The price tag: $1.02 billion in cash, or approximately $2,400 an acre to the 8/8ths. CHK will remain operator and JV costs will be shared proportionally going forward. CHK is currently running eight rigs in the Miss Lime. In a Q1'11 transcript, Aubrey McClendon, CHK's former CEO said the company's acreage cost in the Mississippian was well less...


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