Chesapeake to Sell Lease Holdings to Boost Gas Liquids

From bizjournals.com -Chesapeake Energy Corp. Chesapeake Energy Corp.Latest from The Business JournalsChesapeake looks to sell Texas, New Mexico fields for BReport: Chesapeake Energy's plan reflects desperationChesapeake gas driller sets B assets saleFollow thisis preparing to sell up to $12 billion of its oil and gas fields and other assets in New Mexico and Texas. But while the company is significantly reducing its dry-gas production, it plans to boost gas liquid and oil output in New Mexico and elsewhere. The Oklahoma company, which is the second-largest U.S. natural gas producer, announced Feb. 13 it would consider the sale of all its Permian Basin assets, where it owns 1.5 million net acres of lease holdings, if it received a compelling offer. The leasehold sales, along with the divestment of other assets and sale of $1.3 billion in senior notes, could generate up to $12 billion in capital to improve cash flow and help finance gas-liquid and oil production, according to the company.  More News New Mexico

Chesapeake to Sell Lease Holdings to Boost Gas Liquids