A Chesapeake Energy Corp. subsidiary has sold 27 Utica Shale wells and 37,000 net acres in Northeast Ohio and Western Pennsylvania to Geopetro LLC, a Worthington, OH-based legacy producer. Terms of the sale were not disclosed.
Geopetro said in an announcement that the package includes 22 producing wells that averaged 24 MMcf/d during the first half of this year. One of the wells produces oil and gas from the Upper Devonian shales and the others produce primarily from the Utica. The company also acquired five drilled and completed wells that are awaiting pipeline connection.
Chesapeake Appalachia LLC sold the assets, which are located in Columbiana County, OH, and Beaver County, PA. The sale closed on Oct. 27.Read the whole article by clicking here.
Connect with us on Facebook and Twitter!