Chesapeake Energy Corp said on Wednesday it agreed to sell its interests in the Barnett shale operating area to private equity-backed Saddle Barnett Resources LLC.
The company also cut its average daily production rate to 611,000-638,000 barrels from 625,000- 650,000 barrels.
The Barnett deal includes about 215,000 net developed and undeveloped acres and about 2,800 operated wells, the company said. (Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila).
Recent Articles on M&A
Source: Reuters.com
