Chesapeake To Shed Pipeline Operations As Sales Continue

Chesapeake Energy said it would sell another $4 billion of assets Friday morning, this time shedding its pipeline operations in three separate deals.

Reuters

The natural-gas giant says the sales will reduce its capital-expenditure budget by $3 billion over the next three years, notable given the company’s free-spending ways have been among the concerns investors have raised recently.

The biggest chunk of Friday’s deal is a $2 billion sale of Chesapeake’s stake in Chesapeake Midstream Partners to Global Infrastructure Partners, a private-equity firm.

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