Vinson Reps CNOOC In $2.2B Chesapeake Shale Deal

Law360, New York (October 11, 2010, 1:43 PM EDT) -- Chinese oil and gas giant CNOOC Ltd. has reached an agreement to buy a one-third stake in a Chesapeake Energy Corp. oil and natural gas project in south Texas in a deal valued at $2.2 billion.

Under the deal announced Sunday, the Chinese state-owned oil and gas firm will pay $1.08 billion to acquire a 33.3 percent interest in Chesapeake's 600,000 net oil and natural gas leasehold acres in the Eagle Ford Shale project. CNOOC has also agreed to fund 75 percent of Chesapeake's share of...
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