Chinese firm pondering bid on Chesapeake Energy assets

Chesapeake Energy Acreage For Sale – Image Credit – Meagher Energy Advisors

Denver Business Journal – Thursday, June 21, 2012

Chinese petroleum company Sinopec Corp. is said to be considering a multibillion-dollar bid for some of Chesapeake Energy Corp.’s assets, according to news reports.

It’s unclear if those assets include half a million Colorado acres that Oklahoma City-based Chesapeake seeks to unload.

The Financial Times reports that Sinopec’s top officer, Fu Chengyu, was in Oklahoma this week to perform due diligence on the natural gas company’s assets. The Times cited unnamed people familiar with the situation in its report.

Continue reading rest of the story at The Denver Business Journal

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