Chesapeake sells energy, pipeline assets for $6.9 billion

Sep 12, 2012 | 04:06 PM | Michael Cowden

Tags  Chesapeake Energy, Aubrey McClendon, Royal Dutch Shell, Chevron, EnerVest, Global Infrastructure Partners, oil, natural gas natural gas

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 company’s 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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