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Chesapeake Puts East Texas Oil Assets On Sale Block

By Ben Lefebvre Of DOW JONES NEWSWIRES HOUSTON -(Dow Jones)- Chesapeake Energy Corp. (CHK) is selling another parcel of land as the financially beleaguered company tries to shore up cash, according to an asset sale advisory firm. Chesapeake, the second-largest natural gas producer in the U.S., is selling 57,000 net acres of leaseholds and producing wells in the Woodbine Sand play in east Texas. Chesapeake's attempt to sell the land, a source of crude oil and natural gas liquids, further illustrates the cash-strapped company's efforts to cut its debt to $9.5 billion by the end of 2012. Chesapeake is trying to sell acreage in oil and gas fields stretching from West Texas to southern Kansas as a way to shore up finances amid low natural gas prices. The company sold $2.6 billion in assets so far this year. A Chesapeake spokesman was not immediately available. -By Ben Lefebvre, Dow Jones Newswires; 713-547-9201; ben.lefebvre@dowjones.com; Twitter: @bjlefebvre

Stock News for Chesapeake (CHK)
DateTimeHeadline
02/08/201620:14:00Chesapeake Says It Doesn't Plan to Pursue Bankruptcy -- 3rd Update
02/08/201617:19:00Chesapeake Says It Doesn't Plan to Pursue Bankruptcy -- 2nd Update
02/08/201616:42:00Dow Pares Losses to End Volatile Session Off 1.1%
02/08/201616:22:00Stocks Pare Losses Ahead of Closing Bell
02/08/201613:30:00Chesapeake Says It Doesn't Plan to Pursue Bankruptcy -- Update
02/08/201613:21:00Stocks Sink as Bank, Energy Shares Tumble
02/08/201612:53:00MARKET SNAPSHOT: Stocks Battered Again; S&P On Track For Lowest...
02/08/201612:20:00Chesapeake Says It Doesn't Plan to Pursue Bankruptcy
02/08/201612:10:00Chesapeake Says It Doesn't Plan to Pursue Bankruptcy
02/08/201611:35:00MARKET SNAPSHOT: Stocks Drop On Global Growth Fears; Dow Down...
02/08/201611:18:00Chesapeake Energy Corporation Statement
02/08/201611:02:00MARKET SNAPSHOT: U.S. Stocks Tumble To 22-month Low As Energy...
02/03/201608:00:00Chesapeake Energy Corporation Provides 2015 Fourth Quarter And...
01/26/201616:33:00MARKET SNAPSHOT: U.S. Stocks End Sharply Higher, Lifted By Oil's...
01/26/201613:55:00MARKET SNAPSHOT: Dow Jumps Nearly 300 Points As Stock Rally Gathers...
01/26/201612:06:00MARKET SNAPSHOT: Dow Up More Than 200 Points As Stock Rally Gathers...
01/26/201612:05:00MARKET SNAPSHOT: Dow Up More Than 200 Points As Stock Rally Gathers...
01/22/201609:39:00U.S. Hot Stocks: Hot Stocks to Watch
01/22/201609:10:00Chesapeake Energy Suspends Dividends on Preferred Stock
01/22/201609:04:00Chesapeake Energy Suspends Preferred Dividends; Will Pay Down...

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