Total to buy Cheasapeake’s stake in Barnett shale assets

By LNG World News Total E&P USA, a unit of French gas and oil giant Total on Friday said it is exercising its preemption right to acquire Chesapeake’s 75% interests in the jointly held Barnett Shale operating area located in North Texas.
Total E&P USA has owned the remaining 25% in the Barnett Assets since December 2009. With the preemption, Total E&P USA will be the 100% owner and operator of the assets, the company said in a statement.
Properties in the proposed transaction include approximately 215,000 net developed and undeveloped acres, wells, leases, minerals, buildings and properties. Associated 2016 net production is approximately 65

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