(MENAFN) Chesapeake Energy Corp. said that it inked three deals with a combined value of USD2.6 billion, reported AP.
The natural gas producer added that the first USD1.25 billion contract was inked with a Blackstone Group affiliate and other investors including TPG Capital for preferred shares in a newly-formed subsidiary called CHK Cleveland Tonkawa LLC and a royalty interest in the first 1,000 oil wells drilled on CHK Cleveland Tonkawa land.
The company also said that a USD745 million deal was signed with a Morgan
Stanley affiliate, to which Chesapeake sold a volumetric production payment that includes nearly 160 billion cubic feet of natural gas equivalent.
Whereas the final USD590 million contract that covers currently producing leases on 58,400 net acres in Oklahoma was inked with a unit of Exxon Mobil Corp.
It is worth noting that Chesapeake Energy is the second largest producer of natural gas in the US, a top 15 producer of US liquids and the most active driller of new wells, according to the company's March 2012 investor presentation.