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.
Chesapeake Dumps More Holdings to Ease Debt Load
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.