text: Rockies Chesapeake is the second-largest leasehold owner in the Niobrara Shale, 
  Frontier and Codell plays in the Powder River and Denver Julesburg (DJ) basins of Wyoming 
  
  **8**
  and Colorado. In February 2011, Chesapeake completed a $1.3 billion joint venture agreement with 
  CNOOC, whereby CNOOC acquired a 33.3% interest in Chesapeake’s approximately 800,000 net 
  leasehold acres in the Powder River and DJ basins. CNOOC paid Chesapeake approximately $570 million 
  in cash at closing and will pay an additional $697 million in carries by funding 66.7% of Chesapeake’s 
  
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              [html]<thead><tr><td>Note : Figure</td><td>do not add</td></tr></thead><tbody><tr><td>Chesape</td><td>*</td></tr><tr><td>Induced to last year</td><td>to utilize</td></tr><tr><td>*</td><td>pany total</td></tr><tr><td>develop</td><td>*</td></tr><tr><td>Chale acreage overlaps with</td><td>our part</td></tr></tbody>
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