Dec 11 Chesapeake Energy Corp said on
Tuesday it agreed to sell most of its remaining natural gas
processing and gathering assets to Access Midstream Partners LP
for $2.16 billion.
Chesapeake, which has said it will sell up to $14 billion in
assets this year to pay debt and close a funding gap, first
announced the so-called midstream deal six months ago.
The Oklahoma City, Oklahoma, company said it expects to
reach deals worth $425 million for its remaining midstream
properties by the end of the next year's first quarter.
Chesapeake said it also sold other oil and gas
infrastructure located in Oklahoma and Texas during the fourth
quarter for about $175 million.
The company said it expects to raise $4.9 billion from the
sale of its entire oil and gas gathering and processing
Shares of Chesapeake rose 26 cents to $17.35 after the close
of regular trading.