POINT ROBERTS, January 5, 2012 - www.InvestorIdeas.com, an investor stock research portal focusing on sector research including energy stocks issues an investor alert for oil and gas stock, Chesapeake Energy Corporation (NYSE: CHK) following news this week of its completion of the $2.32 Billion Utica Shale Joint Venture Transaction with Total E&P USA, Inc. The stock closed Wednesday at $23.86, up 0.26 (1.10%).
The transaction, which closed on Friday, December 30, 2011, resulted in combined value of approximately $2.32 billion, of which approximately $2.03 billion was received by Chesapeake and approximately $290 million by EnerVest. Approximately $610 million was paid to Chesapeake in cash at closing and approximately $1.42 billion will be paid in the form of a drilling and completion cost carry, which Chesapeake anticipates fully receiving by year-end 2014.
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