Sinclair Oil & Gas Co., a wholly owned subsidiary of Salt Lake-based Sinclair Oil Corp., and Four Sevens Oil Co. Ltd. said Monday they will sell certain assets in the Barnett Shale play in Texas to Chesapeake Energy Corp. for $845 million.
Sinclair and Four Sevens, based in Fort Worth, Texas, are 50-50 partners in the Barnett Shale play.
The assets include a leasehold position of about 40,000 acres, current gross production and midstream pipeline transportation assets.