Encino Takes Over from Chesapeake in Ohio Utica; Big Plans

The deal is done. On Monday, Encino Acquisition Partners completed its purchase of all of Chesapeake Energy’s Ohio Utica Shale assets for $2 billion, originally announced in July (see Stop Press: Chesapeake Sells ALL of its Ohio Utica Assets for $2B). The deal includes all of Chesapeake’s 933,000 Ohio acres (with 320,000 net Utica acres) and 920 operated and non-operated Ohio Utica wells. With the deal now done, Encino is signaling good things are ahead. The company will keep its Utica regional headquarters in Louisville, OH–right where Chesapeake had it. Encino has and will continue to operate two active drilling rigs in the Utica this year, and add a third rig next year. Encino CEO Hardy Murchison recently spoke about the company’s Utica plans moving forward. It has folks in Ohio excited!

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