Chesapeake Energy Corporation CHK announced today it has entered
into multiple agreements to sell the vast majority of its Permian
properties, substantially all of its midstream assets and certain
noncore leasehold for total net cash proceeds of approximately $6.9
billion. The company will use a portion of the proceeds from these asset
sales to fully repay its $4.0 billion of term loans during the 2012
fourth quarter.
Chesapeake has entered into purchase and sale agreements with three
companies covering the vast majority of its Permian Basin assets for
total net proceeds of approximately $3.3 billion. The Permian Basin
assets being sold produced approximately 21,000 barrels of liquids and
90 million cubic feet of natural
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