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Article: Chesapeake Energy Touts $425 Million Purchase of Houston's Greystone Petroleum.
- Article from:
- Daily Oklahoman (Oklahoma City, OK)
- Article date:
- May 12, 2004
CopyrightCOPYRIGHT 2004 The Daily Oklahoman. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Paul Monies
May 12--Chesapeake Energy Corp. said Tuesday it was buying Houston's Greystone Petroleum LLC for $425 million in cash, marking the Oklahoma City-based company's second major acquisition this year.
Included in the deal are 16,100 acres of natural-gas assets in the Sligo Field of northern Louisiana. Chesapeake is financing the deal through a combination of debt and cash on hand.
"We are thrilled to be where we are on this deal and think it will go down as one of our best transactions that we've ever made," Chief Executive Officer Aubrey McClendon said in a conference call with analysts.
"We think we acquired some ...