The transaction includes existing net production of approximately 415 million cubic feet of natural gas equivalent per day and midstream assets with about 420 miles of pipeline.
Under the deal, Chesapeake will provide essential services for up to one year for BHP Billiton’s Fayetteville properties for an agreed-upon fee.
BHP Billiton Petroleum chief executive Michael Yeager said that the purchase of this long-life field immediately adds over 10 trillion cubic feet of gas resources to the company’s portfolio.
The transaction is expected to close in the first half of this year.
Chesapeake Energy’s operations are focused on discovering and developing unconventional natural gas and oil fields onshore US.
