Chesapeake Energy Corporation has entered into an agreement with RKI Exploration & Production, LLC (RKI) to exchange non operated interests in approximately 440,000 gross acres in the Powder River Basin (PRB) in southeastern Wyoming.

Under the agreement Chesapeake will convey to RKI approximately 137,000 net acres and its interest in 67 gross wells, with an average working interest of 22% in the northern portion of the PRB (Northern Area), where RKI is currently designated operator.

In exchange RKI will convey to Chesapeake approximately 203,000 net acres and its interest in 186 gross wells, with an average working interest of 48% in the southern portion of the PRB (Southern Area), where CHK is currently designated operator.

Tags: Chesapeake Energy Corporation