Table of Contents Index to Financial Statements Fayetteville Shale Other Acquisitions and Divestitures 14 In September 2016, we sold approximately 55,000 net acres in West Virginia for approximately $401 million. As of December 2015, these assets included approximately 11 Bcfe of proved reserves. On August 30, 2018, we entered into an agreement to effect the Fayetteville Shale sale for $1,865 million, subject to customary adjustments. In early December 2018, we completed the Fayetteville Shale sale, receiving $1,650 million in net proceeds after adjustments to the purchase price of $215 million primarily due to the net cash flows from the economic effective date of July 1, 2018 to the closing date. New Brunswick, Canada. We currently hold exclusive licenses to search and conduct an exploration program covering 2,518,519 net acres in New Brunswick. In 2015, the provincial government in New Brunswick imposed a moratorium on hydraulic fracturing until it is satisfied with a list of conditions. In response to this moratorium, the Company requested and was granted an extension of its licenses to March 2021. In May 2016, the provincial government announced that the moratorium would continue indefinitely. Unless and until the moratorium is lifted, we will not be able to develop these assets. Given this development, we recognized an impairment of $39 million, net of tax, associated with our investment in New Brunswick in 2016. We limited our activities in areas beyond our assets in the Appalachian Basin and the Fayetteville Shale during 2018, 2017 and 2016 as a result of the commodity price environment as we focused our capital allocation on these more economically competitive plays. There can be no assurance that any prospects outside of our development plays will result in viable projects or that we will not abandon our initial investments.  Excluding 2,518,519 acres in New Brunswick, Canada, which have been subject to a government-imposed drilling moratorium since 2015, we held 153,159 net undeveloped acres for the potential development of new resources as of December 31, 2018. This compares to 369,236 net undeveloped acres held at year-end 2017 and 492,389 net undeveloped acres held at year-end 2016, excluding the New Brunswick acreage. Production in the Fayetteville Shale totaled 243 Bcf for the year ended December 31, 2018, which represented 26% of our total 2018 net production. In 2018, we invested $33 million in the Fayetteville Shale. On August 30, 2018, we entered into an agreement to effect the Fayetteville Shale sale for $1,865 million, subject to customary adjustments. In early December 2018, we completed the Fayetteville Shale sale, resulting in net proceeds of $1,650 million, following adjustments due primarily to the net cash flows from the economic effective date of July 1, 2018, to the closing date. Our ability to bring our Southwest Appalachia production to market will depend on a number of factors including the construction of and/or the availability of capacity on gathering systems and pipelines that we do not own. We refer you to “Midstream”  within Item 1 of Part I of this Annual Report for a discussion of our gathering and transportation arrangements for Southwest Appalachia production.