Chesapeake Narrows Lower 48 Focus by Cutting Eagle Ford Stake in $1.4B Deal

Chesapeake Energy Corp. has reached a deal to sell its Upper Eagle Ford Shale assets in East Texas to WildFire Energy LLC for $1.425 billion.

The sale includes 377,000 net acres and 1,350 wells across Chesapeake’s Brazos Valley operating area. The company absorbed the assets after acquiring WildHorse Resource Development Corp. in a $4 billion cash-and-stock deal in 2018.

The sale is part of a broader push to divest a 610,000 net acre position across the Eagle Ford in East and South Texas. The company began marketing the properties late last year as it shifts from oil back to natural gas, with a focus on assets in Pennsylvania and Louisiana. 

[Download Now: In our 2024 Natural Gas Outlook Report ‘Future In Focus’, Natural Gas Intelligence’s experienced team of Thought...