Woodford Shale -Chesapeake Energy CHK Sells

Chesapeake has announced today that they will be selling 90,000 acres of their Woodford Shale portfolio to BP for 1.75 Billion.

CHK will use the money for other shale plays including The Marcellus Shale, Haynesville Shale.

The Woodford Shale is located in Oklahoma and is considered a medium range Shale Gas Play. I would probably compare it to the Utica Shale although the Utica is still very young.

For more on the Haynesville Shale and companies drilling there, visit http://haynesvilleshales.com