Thursday, July 31, 2008

IP Leases Deep Rights to Chesapeake

In Chesapeake's continued efforts to collect acreage in the Haynesville Play, the company has agreed to lease from International Paper Corporation deep rights on 13,000 acres of timberland in Northwest Louisiana for $263 million (article, press release). In case you don't have a calculator handy, that works out to be a lease bonus of about $20,231 per acre.

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