Deals
Total Buys $2.3 Billion Utica Shale Stake From Chesapeake
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Total SA, France’s largest oil company, acquired a $2.32 billion holding in Ohio’s Utica shale region from Chesapeake Energy Corp. and EnerVest Ltd.
Total will gain a 25 percent stake in 619,000 acres of Utica in eastern Ohio, a shale deposit rich in liquids as well as natural gas, Chesapeake said today in a statement. Chesapeake will get $2.03 billion and EnerVest $290 million.