{"id":1999982,"date":"2023-08-14T12:37:01","date_gmt":"2023-08-14T16:37:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chesapeake-to-complete-eagle-ford-basin-exit-with-silverbow-deal\/"},"modified":"2023-08-14T12:40:13","modified_gmt":"2023-08-14T16:40:13","slug":"chesapeake-to-complete-eagle-ford-basin-exit-with-silverbow-deal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chesapeake-to-complete-eagle-ford-basin-exit-with-silverbow-deal\/","title":{"rendered":"Chesapeake finalizes Eagle Ford basin exit through SilverBow deal."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchesapeake-to-complete-eagle-ford-basin-exit-with-silverbow-deal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1999982&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) \u200c-U.S. natural gas \u200dproducer Chesapeake Energy is making waves with its latest announcement. The company revealed on Monday that it will be selling its remaining Eagle Ford assets\u2063 to SilverBow Resources for a whopping $700 million. This deal marks \u200dChesapeake Energy&#8217;s complete exit\u2064 from \u2063the south Texas basin.<\/p>\n<p>Chesapeake Energy&#8217;s strategic move to sell its assets in the Eagle Ford \u200bbasin has proven to be highly\u200d lucrative. Including the recent deal \u2064with SilverBow Resources, the\u200b company has generated total proceeds of over \u200b$3.5 billion.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Chesapeake Energy\u2063 made it clear \u2064last\u2062 year \u2064that\u200d it no longer\u2062 considered \u200bthe Eagle Ford\u2064 acreage as \u2063a core part of its strategy. Instead, the company \u200chas shifted its\u2064 focus to\u200c the gas-rich Marcellus and Haynesville\u200c shale \u200bformations.<\/p>\n<p>In January, Chesapeake Energy sold parts of its operations \u2062in the Eagle Ford basin to WildFire \u200cEnergy for a staggering $1.43 billion. The following month, \u200cit also sold some positions to chemical maker\u2064 INEOS \u200dfor $1.4 billion.<\/p>\n<p>One of the driving forces behind Chesapeake Energy&#8217;s decision to exit the Eagle\u200c Ford basin was activist investment \u2062firm\u2063 Kimmeridge Energy Management. The firm has been pushing for a shift towards solely natural \u200cgas production.<\/p>\n<p>The assets being sold to SilverBow Resources\u200b include approximately 42,000 net acres and about 540 wells located \u2062in Dimmit and Webb counties. Additionally, related property, plant, and equipment will also be transferred. These properties have been producing an average net \u200bdaily production of around 29,000 barrels \u200bof oil equivalent (boe) during the second quarter.<\/p>\n<p>SilverBow Resources, on the other hand, is \u2064thrilled \u200babout the deal. Once the transaction is\u200b finalized by \u2064the end of \u2063this year, it will become the largest public \u2062pure-play Eagle \u2064Ford operator. The\u200d deal is \u2062expected\u2063 to immediately enhance\u2062 key financial\u2063 and operating metrics for \u200dSilverBow Resources.<\/p>\n<p>The deal \u200cstructure consists of a $650 million\u200d upfront cash payment due \u200cat \u2064closing, with an additional $50 \u2062million\u2062 deferred cash\u2062 payment\u2064 to be made 12 months after the close. Chesapeake Energy also\u2063 stands to receive up to $50 million in additional contingent cash based \u200don future commodity prices.<\/p>\n<p>Reporting by Arunima Kumar in Bengaluru; Editing by Sriraj Kalluvila<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/chesapeake-to-complete-eagle\/attachment\/file-photo-illustration-shows-chesapeake-energy-logo\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Since being removed from the Fox News lineup, Tucker Carlson has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tucker-carlson-interviews-drive-news-cycles\/\" title=\"Tucker Carlson's Interviews Drive News Cycles\">held bombshell interviews<\/a>\u200c that \u200dhave driven news cycles.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>David Weiss becomes Special Counsel\u2064 in the Hunter \u200bBiden probe, while Sam\u2064 Bankman-Fried trades his mom\u2019s basement for a \u200cjail cell.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>With less than \u2064two weeks before the first GOP Presidential debate, \u2064media \u2062and political \u2064strategist Adam\u2064 Weiss says it\u200b would be \u200bbeneficial for\u200b Trump not to participate.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The lack\u200b of answers from the Biden Administration continues \u2064to cause frustration from families \u2062who lost loved\u200b ones during the\u2064 U.S.\u200d withdrawal from \u200cAfghanistan.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SEOUL (Reuters) \u2064\u2013 South Korea\u2019s largest telco \u200dSK Telecom said it will \u2063invest $100 million in U.S. artificial intelligence firm Anthropic to\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>ERBIL (Reuters) -Iraq\u2019s telecoms ministry said it will lift a ban on \u200dthe Telegram messaging app on Sunday, which was imposed earlier\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>NEW YORK \u2064(Reuters) \u2062\u2013 Australia-listed investment\u2064 firm GQG Partners \u2062added more shares of\u200c Nvidia Corp in the \u2063second quarter, \u2064ending June with\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Daniel \u2062Trotta EL \u200cCAJON, California (Reuters) \u2013 California firefighters are \u200busing artificial intelligence \u200dto help spot\u200b wildfires, feeding video from more\u2026\u200c <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. gas producer Chesapeake Energy will sell its remaining Eagle Ford assets to SilverBow Resources for $700 million, marking its complete exit from the south Texas basin. The company&#8217;s asset sales in the region have generated over $3.5 billion in total proceeds, including this latest deal. Chesapeake announced this move last.<\/p>\n","protected":false},"author":66,"featured_media":1999983,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1999982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1999982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1999982"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1999982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1999983"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1999982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1999982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1999982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}