Chesapeake Energy is partnering with StatoilHydro to develop the Marcellus Shale.
According to Chesapeake, StatoilHydro will acquire a 32.5% interest in Chesapeake's Marcellus Shale assets in Appalachia for $3.375 billion, leaving Chesapeake with a 67.5% working interest
About StatoilHydro :
StatoilHydro is a publicly traded company listed on the NYSE under the symbol, STO. The company has a 52-week trading range of, 15.51 - 43.31.
StatoilHydro has a market cap of 51.64B. In comparison, Chesapeake has a market cap of, 11.97 billion.
Formed in 1972, StatoilHydro is based in Stavanger, Norway.
StatoilHydro refines, markets, transports and develops petroleum and petroleum-derived products, including natural gas and oil. It has service stations in Scandinavia, Poland, the Baltic States of the former Soviet Union and Russia.
StatoilHydro homepage: http://www.statoilhydro.com/en/Pages/default.aspx
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