The trust was formed by Chesapeake Energy Corp. (NYSE:CHK) in June 2011 and owns royalty interests in certain oil and natural gas properties in the Colony Granite Wash play in Washita County, Okla.
Including the $38.4 million deposit previously paid, total consideration for the acquisition was $811 million, which includes the $768 million purchase price and $43.3 million in normal and customary closing adjustments.
The Energy Capital Conference will also feature Stephen Moore, economist and editorial board member, The Wall Street Journal, who will give the opening keynote.
Morningside is a multi-zone prospect with additional targets in the Basal Quarts (Ellerslie) formation, and bypassed gas targets in the Glauconitic, Osteracod, Belly River and Coalbed Methane (CBM) formations.