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Chesapeake Energy Corporation Message Board

  • gormdd540 gormdd540 Aug 20, 2013 6:22 AM Flag

    BLOOMBERG NOT GREAT NEWS

    Chesapeake Sale
    In one of only three oil and gas deals valued at more than $1 billion this year, according to data compiled by Bloomberg, Chesapeake sold 50 percent of its oilfield in the Mississippi Lime formation for $1.02 billion to China Petrochemical Corp. in February.
    Jim Gipson, a spokesman for Chesapeake, declined to comment.
    International buyers that branched into North America in recent years don’t need to buy anything else -- for now, said Toshi Yoshida, a partner with law firm Mayer Brown LLP, which advises on cross-border oil and gas deals. A lot of them achieved their primary goals of obtaining a supply of long-term, dollar-denominated commodities and the technology needed to turn shale into energy, Yoshida said.
    “They will stay here for a long period of time,” Yoshida said. “They will make additional acquisitions when the time is right.”

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