Chesapeake sells Eagle Ford and Haynesville assets to EXCO for US$1 billion
EXCO is spending US$1 billion to purchase two unconventional oil and gas assets located in the US Gulf Coast Region from Chesapeake. The two seperate transactions cover 55,000 net acres in the Eagle Ford shale (Texas), and 9,600 net acres in the Haynesville shale (Louisiana). Current combined production is around 25,000 boe/d. Under our base modelling assumptions, the deal adds approximately 340 drilling locations across the two plays.We value the deal, in aggregate, at US$1.2 billion ...