Since 2008, the company has entered into seven significant joint venture agreements. Through these agreements, Chesapeake has collaborated with other leading energy companies to accelerate the development of its properties in the Haynesville and Bossier Shales, Fayetteville Shale (sold Fayetteville Shale assets in the first quarter of 2011), Marcellus Shale, Barnett Shale, Eagle Ford and Pearsall shales, and Niobrara Shale and Utica Shale. We have sold leasehold and producing property assets to our partners for $7.1 billion of total cash consideration and $9.0 billion of drilling cost carries while retaining a majority interest in each play. The remaining drilling cost carries of approximately $2.4 billion as of December 31, 2011 will be extremely valuable in the years ahead by enabling the company to develop reserves in these unconventional plays at greatly reduced costs. We are also considering opportunities for additional industry participation agreements to develop certain of our other properties. Additionally, in 2009 we formed a joint venture with GIP for certain of our midstream assets in the Barnett Shale and Mid Continent. We and GIP have since sold a portion of the equity in this venture to the public through a master limited partnership, Chesapeake Midstream Partners, L.P.​​​