Despite its aggressive push toward oilier plays, Chesapeake remains heavily tied to natural gas.
Chesapeake Energy announced on Aug. 10 the sale of its Barnett Shale assets and the termination of future commitments associated with this region. With the sale, Chesapeake removes a sizable overhang on its future financial performance, as the region was likely to generate several more years of negative free cash flow as a result of contractual under-deliveries.Under the terms of the deal, Chesapeake will convey its interests in the Barnett to a firm backed by private equity group First Reserve...
Chesapeake Energy is a holding company. Through its subsidiaries, the company is an independent exploration and production company engaged in the acquisition, exploration and development of properties to produce oil, natural gas and natural gas liquid from underground reservoirs. The company owns a portfolio of onshore U.S. liquids and natural gas assets. The company has positions in the resource plays of the Eagle Ford Shale in South Texas, the stacked pay in the Powder River Basin in Wyoming and the Anadarko Basin in northwestern Oklahoma. The company's natural gas resource plays are the Marcellus Shale in the northern Appalachian Basin in Pennsylvania and the Haynesville/Bossier Shales in northwestern Louisiana.
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