Sinopec to buy Chesapeake's Mississippi Lime stake - source

Mon Feb 25, 2013 6:17am EST

Feb 25 (Reuters) - China Petroleum & Chemical Corp (Sinopec) , Asia's largest refiner, will buy a 50 percent stake in Chesapeake Energy Corp's Mississippi Lime oil and gas assets in Oklahoma and Kansas for $1.02 billion, a company source told Reuters.

Chesapeake, the second-largest gas producer in the United States, has about 2.1 million net acres of leasehold in Mississippi Lime.

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