Chesapeake Energy Corp. announced its service affiliate, Chesapeake Oilfield Services, has filed a registration statement with the US Securities and Exchange Commission outlining plans for a proposed initial public offering.
The IPO statement has yet to become effective, said the Oklahoma City independent, which is in the process of divesting assets for anticipated proceeds of $8-10 billion.
The company has vertically integrated its operations and owns substantial marketing, midstream, and services businesses directly and indirectly through its subsidiaries Chesapeake Energy Marketing Inc., Chesapeake Midstream Development LP, and its affiliate Chesapeake Midstream Partners LP.
Chesapeake owns positions in the Barnett, Haynesville, Bossier, Marcellus, and Pearsall natural gas shale plays and in the Eagle Ford, Utica, Granite Wash, Cleveland, Tonkawa, Mississippi Lime, Bone Spring, Avalon, Wolfcamp, Wolfberry, and Niobrara unconventional liquids plays.
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