Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Chesapeake sells midstream assets for $2.16B

Send a link to a friend

[December 12, 2012] NEW YORK (AP) -- Chesapeake Energy Corp. will sell most of its remaining midstream assets for $2.16 billion as the company aims to strengthen its balance sheet and tighten its focus.

The Oklahoma City company, one of the nation's largest natural gas producers, has been reeling from a combination of historically low natural gas prices and questions from investors about its management. It has been selling off assets to pay off a heavy debt load incurred in recent years as it rushed to buy land and other assets.

Access Midstream Partners L.P. is buying the assets, located primarily in the Marcellus, Utica, Eagle Ford, Haynesville and Niobrara shale plays located throughout the continental U.S.

The deal is expected to close by year-end.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

 

 

 

Civic

< Top Stories index

Back to top


 

News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor