272,000 acres at $10,800* per acre = Lots.... $2,937,600,000
272,000 acres @ $1000 per acre = $272M
I would assume somewhere between the two, as oil cheaper now and texas vs alaska. However the US can now export oil so who knows.
Farm in @ 33% of 272,000 @ $10,000 per acre = $897,600,000 (~.28 per share)
*The Chesapeake – CNOOC joint venture announced in October 2010 brought the Chinese into one of America’s hottest plays. CNOOC paid Chesapeake $2.16 billion or $10,800 per acre for a 33% interest in 600,000 net acres at the time of the deal.
http://eaglefordshale.com/companies/chesapeake-energy/
Ann: Permeability Exceeds Pre-Drill Expectations, page-92
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