Related party transactions

6 Months Ended

Jun. 30, 2014

CHK Energy Holdings, an indirect wholly owned subsidiary of Chesapeake Energy Corporation (“Chesapeake”), previously owned approximately 20% of our outstanding common stock. We participate in ownership of properties operated by Chesapeake, and we received revenues and incurred joint interest billings on these properties as follows:



	Three months ended			Six months ended
	June 30, 2013			June 30, 2013
Revenues	$	1,460		$	2,480
Joint interest billings	$	(809	)	$	(1,312	)

In addition, Chesapeake participates in ownership of properties operated by us, and we paid revenues and recorded joint interest billings to Chesapeake on these properties as follows:



	Three months ended			Six months ended
	June 30, 2013			June 30, 2013
Revenues	$	(956	)	$	(1,879	)
Joint interest billings	$	3,618		$	7,885

Amounts receivable from and payable to Chesapeake at December 31, 2013 were as follows:



	December 31, 2013
Amounts receivable from Chesapeake	$	466
Amounts payable to Chesapeake	$	64

On January 13, 2014, CHK Energy Holdings sold all of its equity interest in us to Healthcare of Ontario Pension Plan Trust Fund. The sale by CHK Energy Holdings was in compliance with terms and conditions of the Stockholders Agreement implemented on April 12, 2010.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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