Chesapeake to sell $1 billion assets to Exco Resources

July 3 Wed Jul 3, 2013 7:20am EDT

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July 3 (Reuters) - Chesapeake Energy Corp said it would sell oil and gas assets in the Eagle Ford and Haynesville shales to a unit of Exco Resources Inc for about $1 billion.

"Today's announcement brings our year-to-date asset sales signed or closed to approximately $3.6 billion," Chesapeake Chief Executive Doug Lawler said in a statement.

The Eagle Ford shale is located in Texas, while Haynesville spans Texas, Arkansas and Louisiana.