Chesapeake to gain in Bossier play with Gastar deal

摘要

Large US independent Chesapeake Energy will acquire 19.9% of Houston-based Gas-tar Exploration in a US72- to US75-mil cash deal structured to enhance Gastar's liquidity and Chesapeake's exposure to drilling in the East Texas Deep Bossier play.The Sep 19 announcement boosted shares of both companies with Chesapeake up more than 5.6% on the New York Stock Exchange to close at US35.77 and Gastar rising 13% on the Toronto Stock Exchange to close at US3.47.