Chesapeake sells energy, pipeline assets for $6.9 billion
Sep 12, 2012 | 04:06 PM
| Michael Cowden
CHICAGO Chesapeake Energy Corp. has sold most of its holdings in the Permian Basin, as well as its pipeline assets and positions on shales across the United States, for about $6.9 billion, it said Wednesday.
The Oklahoma City, Okla.-based energy company said the move would allow it to pay down debt and rebalance its energy holdings.
"These transactions are significant steps in the transformation of our companys asset base to a more balanced portfolio among oil, natural gas liquids and natural gas resources," Chesapeake chief executive officer Aubrey McClendon said in a statement.....
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