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Subsequent Events
9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events

(17SUBSEQUENT EVENTS

 

     On October 16, 2014, we announced that we have signed a purchase and sale agreement with Chesapeake Energy Corporation to acquire certain oil and gas assets covering approximately 413,000 net acres in West Virginia and southwest Pennsylvania targeting natural gas, natural gas liquids and crude oil contained in the Upper Devonian, Marcellus and Utica shales for approximately $5.375 billion. The transaction is subject to consent of the principal co-owner of this acreage, which also has a 30-day preferential right to purchase, and to other customary conditions and is currently expected to close by year-end. We have received a commitment from Bank of America, N.A. for a $5.0 billion 364-day senior unsecured bridge term loan credit facility that, together with the Company’s existing revolving credit facility, is available to fund the transaction.