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In addition to the exchange of acreage, Chesapeake will pay RKI $450 million in cash.
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The well is a planned test of a Rotliegend sandstone target at an estimated depth of 2,460 meters.
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Four Winds also recently acquired a fully permitted salt water disposal facility from Kasten Energy Inc. near Lloydminster, Alberta.
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E&P division capital expenditures in the quarter set a record at $304.5 million, as the company increased drilling and completion investments to achieve its production growth targets.
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This increase is due to strong production results from the company's existing producing properties as well as greater certainty regarding the expected timing of wells to be placed into sales during the second half of 2014.
- 9:20 am - free News for July 28, 2014
Farmin agreement gives Beach the potential to earn a 45% interest in ATP 924P (Drillsearch to retain 55%) in the Inland-Cook region of the Cooper Basin.
About half the U.K. will be open for bids.
API president and CEO Jack Gerard cut down speculation by DOT that Bakken crude presents transportation risks.
- free News for July 25, 2014
Five communities in the state have voted to ban or put a moratorium on fracking.
Prior to this acquisition, Black Bison acquired the Reed SWD Facility near Recluse, Wyo.
RSP intends to commence a horizontal drilling program in Glasscock in 2015 once the necessary infrastructure to support horizontal operations is constructed and operational.
This acquisition will increase the company's net revenue interest on its existing 875 acre oil and gas lease located on the related acreage from approximately 86% to nearly 100% in the Marcellus Shale.
The Knox plant is the partnership's first new plant to be built in the emerging SCOOP play and will process natural gas from secured acreage dedications in the area.
News for July 24, 2014
The sale will "reduce debt as it focuses on deepwater oil and natural gas finds in the Gulf of Mexico," Bloomberg said.
The highest U.S. oil production in more than two decades means Gulf Coast refineries are processing close to the most fuel ever.