Boston, MA 05/20/2013 (wallstreetpr) – Friday’s trading session saw Chesapeake Granite Wash Trust (NYSE:CHKR) climbing down by 5.95%. It opened at a price of $16.03 which reached an intraday high of $16.09 before heading down to close at $15.14 per share. In excess of 0.526 million shares exchanged hands in the previous trading session. This figure stood above the average volume of 0.214 million that was measured over a 30-day period.
CHKR will trade ex-dividend, for its $0.69 quarterly dividend which will be payable on 31 May 2013. As a percentage of the Chesapeake Granite Wash Trust (NYSE:CHKR) recent stock price that stood at $17.17, this dividend works out to around 4.02%.
Chesapeake Granite Wash Trust (NYSE:CHKR) is a trust that has been formed to own royalty interests for the benefit of unit holders of the trust. These are conveyed to the trust via Chesapeake Energy Corporation (Chesapeake). These royalty interests that are held by the Trust are derived from interests that Chesapeake has in specified oil and natural gas properties. These are situated in the Colony Granite Wash play, Washita County in the Anadarko Basin in Western Oklahoma. Chesapeake conveyed these Royalty Interests to Chesapeake Granite Wash Trust (NYSE:CHKR) from the interests that it holds in 69 existing horizontal wells and Chesapeake’s interests in 118 horizontal-development wells. These are to be drilled on the properties that lie within the Area of Mutual Interest. The AMI is restricted the Colony Granite Wash formation. This is where the company held around 45,400 gross acres as of 31 December 31.