Chesapeake Energy acquired an additional 23,180 Eagle Ford acres this week from Antares Energy, out of West Perth, Australia, and their partner San Isidro Development Co. for $200 million amounting to $8,628 per net acre. The purchased acreage is in McMullen County and is listed under their partner San Isidro Development in the DI leasing data. The following is a map of all of San Isidro’s acreage (in pink) in McMullen County which the majority of appears to be in the northwest part of the county next to a rather large EOG position.
This new land grab is on the heels of the close of Chesapeake’s deal with China’s CNOOC International Limited whereas CNOOC purchased a 33.3% undivided interest in 600,000 net Chesapeake Eagle Ford acres for $1.1 billion. According to Chesapeake’s December 2010 Investor Presentation the Company holds 425,000 net acres in the Eagle Ford which is the largest industry position in the play.
For more information visit the Acquisition and Divestitures Folder under Activity in the Eagle Ford Unconventional Update in DI’s DNA.
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