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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
07/14/201616:00:00Chesapeake Energy Corporation Provides 2016 Second Quarter Earnings...
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07/01/201616:35:00North Texas Royalty Buyers and Investors Sue Chesapeake Energy...
06/26/201620:40:00Williams Cos. Fights to Save Deal
06/08/201613:44:00Crash That Killed Aubrey McClendon Was Accident -- 2nd Update
06/08/201613:05:00Crash That Killed Aubrey McClendon Was Accident -- Update
06/08/201613:00:00Crash That Killed Aubrey McClendon Was Accident
06/08/201612:35:00Crash That Killed Aubrey McClendon Was Accident
06/07/201614:30:00Seventy Seven Energy Files for Bankruptcy
05/18/201621:57:00American Energy Partners LP to Shut Down -- Update
05/16/201618:55:00SandRidge Energy Files for Bankruptcy Protection -- 2nd Update
05/16/201615:08:00SandRidge Energy Files for Bankruptcy Protection -- 2nd Update
05/12/201616:27:00Chesapeake Swaps Debt for Stock -- Update
05/12/201610:30:00Chesapeake Swaps Debt for Stock
05/12/201610:15:00Chesapeake Energy Swaps Debt for Stock
05/06/201603:03:00Energy Producer Narrows Its Loss -- WSJ
05/05/201610:10:00Chesapeake Energy Loss Narrows
05/05/201609:58:00Chesapeake Energy Loss Narrows; to Sell Some Assets
05/05/201608:18:00Newfield to acquire an additional 42,000 net acres in STACK

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