The chief executive of Chesapeake Energy (CHK.N) said on Tuesday he expects to strike a joint venture deal for some of the company's Utica Shale acreage by the end of October. "We are in the market today for a Utica JV," Aubrey McClendon, Chesapeake's CEO told the Barclays' CEO Energy-Power conference. Chesapeake, based in Oklahoma City, Oklahoma, will also likely pursue deals for its shale acreage in the Williston and Mississippian basins, McClendon said in remarks broadcast on the Internet. Shares of Chesapeake fell $1.57, or nearly 5 percent, in early afternoon trading on the New York Stock Exchange.
Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas and oil and natural gas liquids in the United States. Shares of CHK fell by 4.61% or $-1.48/share to $30.63. In the past year, the shares have traded as low as $20.74 and as high as $35.95. On average, 11814200 shares of CHK exchange hands on a given day and today's volume is recorded at 6277700.
Source
