NEW YORK — Chesapeake Energy Corp., the most-active U.S. natural-gas driller, intends to raise $5 billion this year by selling its Fayetteville Shale holdings in Arkansas and its stakes in two companies. It will use the money to cut debt.
The sale will include 487,000 net acres in the shale field that produce the equivalent of 415 million cubic feet of gas daily, Oklahoma City-based Chesapeake said in a prepared statement.
The company, which is the second-largest operator in the Fayetteville Shale, also will sell its stakes in closely held service company Frac Tech Holdings LLC and Chaparral Energy Inc.
Read tomorrow's Arkansas Democrat-Gazette for full details.
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