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.
- Chesapeake To Shed Pipeline Operations As Sales Continue (blogs.wsj.com)
- Chesapeake to sell pipeline assets for more than $4 billion (fuelfix.com)
- Chesapeake to sell pipeline assets for $4B (miamiherald.com)
- Chesapeake Sheds Pipelines (247wallst.com)
- Chesapeake sets $4 bln infrastructure sale (marketwatch.com)
- Chesapeake Energy to sell $4 billion in pipelines (money.cnn.com)