CHESAPEAKE GRANITE WASH TRUST (NYSE:CHKR) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On December 19, 2018, Chesapeake Granite Wash Trust (the “Trust”) issued a press release announcing that its trustee, The Bank of New York Mellon Trust Company, N.A. (the “Trustee”), has determined to gradually increase the Trustee’s existing cash reserves for the payment of future expenses and liabilities of the Trust, as permitted by the trust agreement. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
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Exhibit No. |
Document Description |
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Press release dated December 19, 2018 |
CHESAPEAKE GRANITE WASH TRUST Exhibit
EX-99.1 2 ex9912018-12x19chkrpressre.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1News ReleaseChesapeake Granite Wash TrustDecember 19,…
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About CHESAPEAKE GRANITE WASH TRUST (NYSE:CHKR)
Chesapeake Granite Wash Trust (the Trust) is a trust formed to own royalty interests for the benefit of Trust unit holders. The royalty interests held by the Trust (Royalty Interests) are derived from Chesapeake Energy Corporation’s (Chesapeake) interests in specified oil and natural gas properties located in the Colony Granite Wash play in Washita County. Chesapeake conveyed the Royalty Interests to the Trust from its interests in approximately 70 existing horizontal wells (Producing Wells) and Chesapeake’s interests in over 120 horizontal development wells (Development Wells) to be drilled on properties within the Area of Mutual Interest (AMI). The AMI lies within Washita County in western Oklahoma and is limited to Colony Granite Wash formation, where Chesapeake holds approximately 40,500 gross acres. Chesapeake has drilled and completed over 90 wells within the AMI. The Colony Granite Wash is located at the eastern end of Des Moines-age granite wash fields.