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Total acquires Utica Shale acreage from Chesapeake Energy and EnerVest for US$2.44 billion

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03 November 2011

Total acquires Utica Shale acreage from Chesapeake Energy and EnerVest for US$2.44 billion

Report summary

The Utica is the latest US shale play to see a flurry of M&A activity. The past few months have seen three large acquisitions - two by Hess, the other by an undisclosed "international major" - with a combined value of US$3.7 billion. The shift from land leasing to deal activity has been rapid, and the increase in per-acre acquisition costs precipitous. The Utica Shale underlies much of the Appalachian Basin (northeast US), lying several thousand feet below the Marcellus ...

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    Total acquires Utica Shale acreage from Chesapeake Energy and EnerVest for US$2.44 billion

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