Chesapeake Dumps More Holdings to Ease Debt Load

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Chesapeake Energy’s announced another $450 million dollar sale of its natural gas assets.  It involves nearly 78,000 net acres in the Haynesville Shale area of northern Louisiana.

A private company has made the purchase but Chesapeake did not disclose the identity in making the announcement early Monday. The sale includes 250 wells with a current net production of about 30 million cubic feet of gas a day.
This latest divestiture brings the gross proceeds of asset sales this year to nearly $2 billion. Chesapeake starting unloading property earlier in the year as its debt load swelled to nearly $9 billion. Just last month, the Oklahoma City-based company indicated it plans to sell about 126,000 acres in the Haynesville Shale field in Louisiana.
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