Private equity group KKR and Chesapeake Energy Corp have agreed to partner to invest in mineral and royalty interests in oil and gas assets in the United States.
Under the terms of the agreement, Chesapeake, the second-largest U.S. producer of natural gas, will contribute 10 percent of the initial investment of $250 million and will source, acquire and manage the royalty investment opportunities, the companies said in a statement.
The deal highlights growing private equity interest in the energy sector. Last week, Blackstone Group LP said it would invest $2 billion in Cheniere Energy Partners LP to help build Cheniere's first export plant in Sabine Pass, Louisiana.
Resource: Reuters
