As it prepares to emerge from Chapter 11 bankruptcy, Oklahoma City’s Chesapeake Energy Corporation announced the offering of $1 billion in senior notes….presumably a move to give the company more available cash to head forward with its operations.
The private offering includes $500 million in senior unsecured notes due 2026 and another $500 million notes due 2029.
Chesapeake also announced, according to a filing with the SEC updated figures on its acreage and production volumes in the five geographic areas where it has operations.
In the Appalachia, Chesapeake held 540 thousand acres as of Dec. 31, 2020 with an average production of 1,110 million cubic feet of natural gas a day in the fourth quarter of 2020.
It also held 225,000 net acres in the Gulf Coast with production of nearly 558 million cubic feet of natural gas a day as of the same quarter.
Eagle Ford Shale holdings amounted to 220,000 net acres in South Texas with production of 84,000 barrels of oil equivalent a day.
Chesapeake had 420,000 net acres n the Brazos Valley with production of 41,000 barrels of oil equivalent a day.
It also had holdings in Wyoming’s Powder River Basin where fourth quarter 2020 production was about 22,000 barrels of oil equivalent a day.
