BP Invests in Arkoma Basin Shale

摘要

Energy major BP (www.bp.com) will pay 1.75 billion for natural gas assets owned by Chesapeake Energy Corp. (www.chk.com) of Oklahoma City, OK. Chesapeake, a leader in shale-gas production and unconventional energy exploration, has natural-gas properties covering approximately 90,000 acres in southeast Oklahoma's Arkoma (Arkansas/Oklahoma) Basin. The companies anticipate closing the transaction in August 2008.