USA: Chesapeake to Sell Assets for USD 4 Billion

Chesapeake to Sell Assets for USD 4 Billion

Chesapeake Energy Corporation announced plans to sell its midstream assets in three separate transactions for total expected cash proceeds of more than $4.0 billion.

The midstream divestitures will also enable Chesapeake to reduce previously budgeted capital expenditures by approximately $3.0 billion over the next three years.

Chesapeake has agreed to sell its limited partner units and its general partner interests in Chesapeake Midstream Partners to Global Infrastructure Partners (GIP) for cash proceeds of $2.0 billion.

Chesapeake has also entered into a letter agreement with CHKM relating to the potential sale of certain Mid-Continent gathering and processing assets to CHKM and a separate letter agreement with GIP for the sale of the company’s interests in its wholly owned subsidiary, Chesapeake Midstream Development, L.P. (CMD) to GIP. Chesapeake expects total cash proceeds of more than $2.0 billion from these two transactions.

LNG World News Staff, June 8, 2012

Share this article

Follow LNG World News

Events>

<< Aug 2015 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

7th World LNG Series: Asia Pacific Summit 2015

The World LNG Series: Asia Pacific Summit is the largest international strategic LNG Summit in the Asia Pacific region…

read more >

Fundamentals of LNG

Operational and commercial essentials of the Liquefied Natural Gas sector from IBC Academy…

read more >

LNG Mini MBA in Project Development

CWC School for Energy to hold an LNG mini MBA in Project Development in London, UK…

read more >

Gas Mexico Congress & Exhibition

Gas Mexico Congress & Exhibition connects the natural gas community across the Americas by providing a forum at which business and technical…

read more >