Total spends $2.3B on Utica Shale JV with Chesapeake, EnerVest

01/3/2012 | Reuters

France's Total will spend about $2.3 billion to acquire a 25% interest in a joint Utica Shale drilling venture with Chesapeake Energy and EnerVest. "This is consistent with our strategy to develop positions in unconventional plays with large potential and, in this case, with value predominantly linked to oil price," said Yves-Louis Darricarrere, Total's president of exploration and production.

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