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CORRECTED-Chesapeake Energy's second quarter profit rises on asset sale

Mon Aug 6, 2012 4:40pm EDT

(Corrects in second paragraph to show profit increase, not drop)

Aug 6 (Reuters) - Chesapeake Energy Corp posted a jump in second-quarter profit after it sold its midstream subsidiary, and said it expects to sell another $7 billion in assets during the current quarter.

Profit in the quarter was $929 million, or $1.29 per share, up from $467 million or 68 cents per share in the same period a year ago. (Reporting By Anna Driver; editing by Andre Grenon)
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