China Petroleum & Chemical Corp (Sinopec) , Asia's largest oil refiner, will purchase a 50 percent stake in Chesapeake Energy Corp's Mississippi Lime oil and gas properties in Oklahoma and Kansas for $1.02 billion, a Sinopec source said.Chesapeake, the second-largest gas producer in the United States, has about 2.1 million net acres of leasehold in the Mississippi Lime region.Chesapeake could not be reached for comment.Production from the Mississippi Lime region jumped 208 percent to an average of 32,500 barrels of oil equivalent per day in the fourth quarter, Chesapeake reported this month.
Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. Shares of CHK remained unchanged at $20.50. In the past year, the shares have traded as low as $13.32 and as high as $26.09. On average, 14125300 shares of CHK exchange hands on a given day and today's volume is recorded at 300.
China Petroleum & Chemical Corporation is an energy and chemical company. Shares of SNP remained unchanged at $112.75. In the past year, the shares have traded as low as $82.51 and as high as $122.81. On average, 81379 shares of SNP exchange hands on a given day and today's volume is recorded at 0.
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