Plains Drops $125M On Eagle Ford Assets From Chesapeake

Law360, New York (December 13, 2012, 2:40 PM EST) -- Texas-based master limited partnership Plains All American Pipeline LP has agreed to buy oil and condensate assets in the fossil-fuel rich Eagle Ford shale from Oklahoma oil and gas firm Chesapeake Energy Corp. for $125 million, both companies said Thursday.

The assets are located in southern Texas in Chesapeake's Eagle Ford play. They include roughly 40 miles of crude oil and condensate gathering pipelines with a throughput capacity of 50,000 barrels per day, Plains said.

Chesapeake, which has unloaded a titanic chunk of assets in 2012...
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