Chesapeake Energy Sells Proved Reserves

Oklahoma City-based Chesapeake Energy Corp. sells long-lived producing assets in the Anadarko and Arkoma Basins for $412 million or $4.20 per million cubic feet equivalent.
The assets include proved reserves of approximately 98 billion of cubic feet equivalent and current net production of about 60 million of cubic feet equivalent per day.
Chesapeake retains drilling rights on the properties below currently producing intervals.
Chesapeake was advised on the transaction by Jefferies Randall & Dewey of Houston, Texas.
The purchase is financed by GS Loan Partners, an affiliate of The Goldman Sachs Group Inc.

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