Chesapeake Exploration LLC recently announced its selling its rights to its Utica assets, including leases, to EAP Ohio, LLC, a company formed by Encino Energy and Canada Pension Plan Investment Board, according to Farm and Dairy.
With a background in the oil and gas arena, Encino plans to invest in continued Utica drilling activity.
Some lessors, who are impatient with Chesapeake, might welcome the assignment, but for others it raises concerns.
Incidentally, how you should react to the changes depends on the status of your lease. Learn how to determine your best course of action with tips from Alan D. Wenger, oil & gas lawyer in Youngstown, Ohio.