Total Buys $2.3 Billion Utica Stake From Chesapeake, EnerVest
2012-01-03 07:08:41.950 GMT


By Will Kennedy
     Jan. 3 (Bloomberg) -- Total SA, France’s largest oil
company, acquired a $2.32 billion holding in Ohio’s Utica shale
region from Chesapeake Energy Corp. and EnerVest Ltd.
     Total will gain a 25 percent stake in 619,000 acres of
Utica in eastern Ohio, a shale deposit rich in liquids as well
as natural gas, Chesapeake said in a statement today. Chesapeake
will get $2.03 billion from the transaction and EnerVest $290
million.

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