Chesapeake Energy Sells 2nd Tranche of Eagle Ford Assets for $1.4B

Chesapeake Energy has cut a deal to sell a second portion of its remaining Eagle Ford assets to U.K. chemical company INEOS Energy for $1.4 billion. The deal includes 172,000 net acres and approximately 2,300 wells. It is the first time INEOS will own U.S. shale assets. In 2018 Chesapeake, under the direction of then-CEO Doug Lawler, purchased 420,000 net acres in the Eagle Ford shale and Austin Chalk formations in Texas from WildHorse Resource Development Corp for $4 billion (see Chesapeake Now Gone from Ohio Utica; Spends $4B in Eagle Ford). The company grew its Eagle Ford assets with more purchases and currently owns 610,000 acres.

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