Chesapeake Energy selling some assets for $6.9B
OKLAHOMA CITY (AP) — Chesapeake Energy Corp. is selling the vast portion of its land and infrastructure in west Texas for nearly $7 billion as the company unloads debt and shifts more of its focus to drilling for oil, rather than natural gas.
The assets in the oil and gas-rich Permian Basin are being sold in a series of deals to Royal Dutch Shell PLC, and Chevron Corp., and in a previously announced sale to affiliates of EnerVest Ltd.
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