Chesapeake to Sell Shale Oil Assets to Chemical Maker Ineos for $1.4 Billion
Chesapeake Energy Corp. is expected to announce the sale of oil assets to a division of U.K. chemical maker Ineos Group AG for $1.4 billion, according to people familiar with the matter.
The deal could be announced as soon as Tuesday, the people said, and involves oil assets in the northern part of the Eagle Ford shale basin in south Texas. The sale would mark the first foray of Ineos, one of the world’s largest chemical producers, into U.S. oil and gas production, according to the people.
Chesapeake Energy Corp. is expected to announce the sale of oil assets to a division of U.K. chemical maker Ineos Group AG for $1.4 billion, according to people familiar with the matter.
The deal could be announced as soon as Tuesday, the people said, and involves oil assets in the northern part of the Eagle Ford shale basin in south Texas. The sale would mark the first foray of Ineos, one of the world’s largest chemical producers, into U.S. oil and gas production, according to the people.
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