Chesapeake outlines three sales worth $2.6 billion total

04/16/2012
Chesapeake Energy Corp. announced three oil and gas asset transactions totaling $2.6 billion with the largest value deal involving $1.25 billion to a group of investors acquiring a stake in the Cleveland and Tonkawa unconventional liquids-rich tight sand plays in Oklahoma. Another transaction involved a volumetric production payment (VPP) for Anadarko basin natural gas production, and a separate transaction involved the sale of assets in the Texoma Woodford play in Oklahoma to XTO Energy Inc., a subsidiary of ExxonMobil Corp. These transactions are part of Chesapeake's ongoing plans to divest assets in coming months for anticipated proceeds of $8-10 billion. Aubrey K. McClendon, Chesapeak...
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