Commercial, Bracewell Aid Chesapeake In $3B Shale Deals

Law360, New York (November 3, 2011, 10:09 PM EDT) -- Chesapeake Energy Corp. is planning to earn about $3.4 billion from two deals selling off a portion of its holdings in the Utica Shale in eastern Ohio, the company announced Thursday.

Through the deals, which involve selling a portion of its 1.5 million acres in the Utica Shale through a joint venture and potential $1.25 billion sale of preferred stocks, the company will recover about 110 percent of its initial investment in the entire Utica Shale play while only selling about 10 percent of its holdings,...
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