“Chesapeake Energy Selling Oklahoma Acreage to Chinese Company”

Sinopec will buy an interest in half of Chesapeake’s 850,000 net acres in the oil-rich Mississippi Lime, then share future exploration and development costs in the play. Chesapeake’s Mississippi Lime acreage produced an average of 34,000 barrels of oil equivalent a day during the fourth quarter. The acreage has proved reserves of 140 million barrels of oil equivalent.

Read more at: newsok.com