How is Mr. Denton coming along with our proposal?

How is Mr. Denton coming along with our proposal?

Postby Encharma » Mon Sep 08, 2008 10:57 pm

I was wondering if Mr. Denton has come up with any info on our coalition's proposal. I also took a minute to figure the price per acre for the BP purchase from Chesapeake for the 90,000 acres. Turns out to be 22,222.22$ per acre.
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Re: How is Mr. Denton coming along with our proposal?

Postby snbfarmer » Tue Sep 09, 2008 8:47 am

If your math is correct it shows that corporations have a sense of humor sometimes.
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Re: How is Mr. Denton coming along with our proposal?

Postby Encharma » Tue Sep 09, 2008 9:08 am

I went back to the article because somehow I remembered it being 135,000 acres bought from Chesapeake by BP for 1.9 billion dollars. My memory was correct. So the joke becomes even more laughable. 135,000 acres for 1.9 billion dollars equals approximately 14,047.47$ per acre; Chesapeake holding onto 403,000 acres in the Fayatteville play. Any other land leased by CHK in the Fayatteville play will also commandeer a 25% from BP ,and they also guarantee an additional 3.5 billion dollars for exploration and development to CHK . It's all a shale play ballet on the dance floor of the NYSE.
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