AUBREY MCCLENDON ONCE said Chesapeake Energy Corp.'s discovery of the Utica Shale would "be the greatest thing to hit Ohio since the plow." Seven years later, Encino Acquisition Partners (EAP), a privately held Houston-based company is clearly convinced. EAP agreed in late July to pay up to $2 billion in a deal that will see Chesapeake exit one of its finest finds as it seeks to work off leverage and core up its other holdings. Encino Acquisition Partners (EAP), a privately held Houston-based company formed in 2017 and led by Hardy Murchison. said it would pay $2 billion in cash for the 938,000-acre position in eastern Ohio, a complete exit by Chesapeake. Of that, $100 million is contingent on future gas prices.
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