Chesapeake Gets Creative

摘要

Chesapeake Energy has demonstrated its financial creativity again, this time by establishing a royalty trust that could raise nearly $600 million to help fund the company's drilling efforts in Oklahoma's Granite Wash play. Chesapeake filed paperwork with the US Securities and Exchange Commission (SEC) last week for an initial public offering (IPO) of units in the newly formed Chesapeake Granite Wash Trust. The royalty trust (NYSE ticker symbol: CHKR) offers unitholders a share of the income from wells drilled across a portion of Chesapeake's Granite Wash holdings in exchange for their upfront investment.