In a series of deals announced Wednesday, Chesapeake Energy Corp has agreed to sell off another batch of assets as part of its ongoing effort to pay off more than $13 billion in debt.
The latest transactions, which will bring Chesapeake roughly $6.9 billion, include selling most of the company’s properties in the Permian Basin of West Texas to other oil companies for $3.3 billion; unloading $2.7 billion in midstream assets to a private equity firm; and selling another $900 million in other midstream and leasehold assets to six companies that were not identified in the Chesapeake press release announcing the deals.
