Tuesday, December 11, 2012 6:35 pm
Chesapeake sells midstream assets for $2.16B
By The Associated Press
The Oklahoma City company, one of the nation's largest natural gas producers, has been reeling from a combination of historically low natural gas prices and questions from investors about its management. It has been selling off assets to pay off a heavy debt load incurred in recent years as it rushed to buy land and other assets.
Access Midstream Partners L.P. is buying the assets, located primarily in the Marcellus, Utica, Eagle Ford, Haynesville and Niobrara shale plays located throughout the continental U.S.
The deal is expected to close by year-end.