More on Chesapeake’s Fire Sale of PA Acreage to Southwestern
A blogger on the Seeking Alpha website delivers a bit more information about the announcement earlier this week that Chesapeake is selling their leases for 163,000 acres in NE PA to Southwestern Energy for what MDN called the "fire sale" price of $574 per acre (see Southwestern Energy Buys 162K PA Marcellus Acres from Chesapeake).
According to Seeking Alpha, Chesapeake paid an average of $610 per acre to lease that acreage between 2006-2009, so they actually lost money on the deal...
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