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Chesapeake Energy, the pioneering Utica Shale drilling company in Ohio, completed its asset sale of 900,000 acres, approximately 900 wells, and related property and equipment within the Shale to Encino Acquisition Partners for $2 billion, according to the Times Reporter. The company then closed its quarter with a profit of $60 million.

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Estonia's oil shale resources are very different from the shale deposits that are now yielding enormous amounts of oil and gas throughout the U.S. Oil shale is rock that contains organic matter known as kerogen that, when heated, can produce a liquid oil very similar to crude oil.

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