Total to acquire Chesapeake shale-gas assets in joint venture deal

01/4/2010 | Wall Street Journal, The

France's Total signed a deal to purchase 25% of Chesapeake's Barnett Shale gas business in Texas, becoming the latest foreign oil company to venture into the U.S. unconventional gas sector. Total will initially pay $800 million under the agreement, providing an additional $1.45 billion over six years to finance drilling and well-completion expenses.

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