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>

<< Apr 2016 >>
MTWTFSS
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 1

Colombia Oil & Gas Conference

The event is a platform for national and international players to meet with Colombian government representatives…

read more >

Flame 2016

Known as the European meeting place for the global gas community, Flame is the annual meeting place for the industry.

read more >

Canada LNG Export Conference and Exhibition 2016

Those fundamental to the development of LNG supply-demand dynamics and the success of LNG project delivery in Canada will again convene DMG’s 4th Annual Canada LNG Export Conference & Exhibition.

read more >

The 3rd Annual Myanmar Upstream Oil & Gas

The 3rd Myanmar Upstream Summit will once again be the must-attend platform for debate…

read more >