Total Gets Into U.S. Shale With Chesapeake Deal

January 2010
Energy Daily;1/6/2010, p5
The article reports on the entry of Total SA into the U.S. shale gas industry in 2010 with a 2.25 billion dollars deal with Chesapeake Energy Corp. to get 25% interest in key Chesapeake assets in the Barnett Shale in Texas. It notes that Total SA U.S. affiliate Total E&P USA Inc. will pay Chesapeake 800 million dollars in cash plus an additional 1.45 billion dollars over the next three years by funding 60% of Chesapeake's share of Barnett Shale drilling and completion cost. Shale fields are said to be profitable even at low market prices for gas.


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