Deal Insight

Hess sells 74,000 dry gas Utica acres for US$924 million to American Energy Partners

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Report summary

Former CEO of Chesapeake Energy, Aubrey McClendon, returns to the Utica with a blockbuster deal in the dry gas portion of the play. McClendon's newly-formed company, American Energy Partners, is reported to have acquired Hess' 74,000 net acre position eastern Ohio's Jefferson, Belmont, and Harrison counties for US$924 million. This deal marks the largest acreage price paid to-date in the Utica's Lean Gas window, and signals a bullish outlook for well results in that area ...

What's included

This report contains

  • Document

    Hess sells 74,000 dry gas Utica acres for US$924 million to American Energy Partners

    PDF 1.98 MB

Table of contents

Tables and charts

This report includes 9 images and tables including:

Tables

  • Executive summary: Table 1
  • Upstream assets: Table 1
  • Deal analysis: Table 1
  • Deal analysis: Table 2
  • Deal analysis: Table 3
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2
  • Strategic rationale: Table 1

Images

  • Hess' Lean Gas acreage sale and nearby operator activity

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