BP eyes Chesapeake Energy properties- WSJ
Oct 16 (Reuters) - BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) is exploring a potential deal to buy natural-gas properties from Chesapeake Energy Corp (CHK.N: Quote, Profile, Research, Stock Buzz), The Wall Street Journal said citing people close to the British company's thinking.
It is not clear whether BP is willing to pay close to what these properties were fetching in September, before the credit crunch and a 13 percent drop in gas prices, or whether Chesapeake is willing to accept less, the paper said.
In September BP bought a 25 percent interest in Chesapeake's Fayetteville Shale assets in Arkansas for $1.9 billion. The deal followed BP's July purchase of Chesapeake properties in Oklahoma for $1.75 billion. BP and Chesapeake could not be immediately reached for comment by Reuters. (Reporting by Ajay Kamalakaran in Bangalore; Editing by Kim Coghill)
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