HOUSTON, February 23, 2011: BHP Billiton announced it has agreed to acquire all of Chesapeake Energy Corporation's (Chesapeake) interests in the Fayetteville Shale, USA, including the midstream pipeline system, for US$4.75 billion, which BHP Billiton expects to fund from the Group's cash resources.
Morgan Lewis advised BHP on the acquisition. The firm's team on the deal was led by partners David Asmus and Michael King.
For additional details on the transaction, please see BHP's press release at: http://www.bhpbilliton.com/bb/investorsMedia/news/2011/bhpBillitonAnnouncesAcquisitionOfChesapeakeEnergyCorporationsFayettevilleUsaShaleAssets.jsp.