Chesapeake Sells Eagle Ford Leases For $125M

Law360, Dallas (September 11, 2012, 9:01 PM EDT) -- Energy & Exploration Partners Inc. on Monday agreed to buy a working interest in 57,275 acres in the Eagle Ford Shale and Woodbine Sandstone formations from Chesapeake Energy Corp. for $125 million, according to a registration statement filed with the U.S. Securities and Exchange Commission.

The deal, expected to close Oct. 31, would more than triple Energy & Exploration’s existing East Texas portfolio and sets up the company’s plans to drill more than 40 wells in the two formations by the end of 2013. According to...
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