Now for Sale at Chesapeake: Drilling Leases in East Texas

Chesapeake Energy put another piece of its vast collection of energy fields up for sale as the cash-strapped company looks to bridge a budget gap and trim debt.

Associated Press

Chesapeake, the second-largest natural gas producer in the U.S., is selling drilling leases for more than 57,000 acres in the Woodbine Sand play in east Texas, according to oil patch deal advisor Meagher Energy Advisors. The land has 10 oil wells and generated about $825,500 a month this year, Meagher Energy said in its listing for the properties.

Nader Nazemi

Southern New Hampshire University

SNHU

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