Chesapeake Energy selling $6.9B in assets; Colorado holdings still on the market

Chesapeake Energy Acreage For Sale – Image Credit – Meagher Energy Advisors

Denver Business Journal by Cathy Proctor, Reporter – Wednesday, September 12, 2012

Chesapeake Energy Corp. announced Wednesday a series of deals to sell off assets across the country for $6.9 billion — but nearly 504,000 acres of mineral rights in Colorado and Wyoming that the company has put up for sale are still up for grabs.

Chesapeake, which has been hammered by sinking natural gas prices, wants to sell up to $14 billion worth of assets this year to stabilize its financials.

It said Wednesday it’s selling the “vast majority” of its Permian properties, “substantially all” of its midstream assets and “certain noncore leasehold” for a total of $6.9 billion.

Continue reading article at the Denver Business Journal

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