Total takes $2.25bn stake in US shale

Total E&P USA signed a joint venture agreement on December 30 with US-based Chesapeake Exploration to acquire a 25% share in the latter’s shale gas portfolio for $800 million. Over the next six years, Total has also committed to pay a maximum of $1.45 billion in the form of a 60% carry of Chesapeake future capital expenditures on drilling and completion of wells within the framework of the joint venture.

The assets include approximately 300,000 net acres of leasehold, 90% of which are located in

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: