America’s shale revolution began in the Barnett Shale fields of North Texas. Now, one of the earliest shale adopters can’t wait to escape this money-losing area.
Chesapeake Energy (, the No. 2 U.S. natural gas company, announced a deal this week to unload its entire Barnett Shale portfolio — for free. Chesapeake won’t receive any cash to transfer its 215,000 acres of natural gas assets in the once-prolific Barnett Shale to a Dallas company bankrolled by a private-equity firm. )