Chesapeake To Unload $7B Of Assets In 3rd Quarter

Law360, New York (August 7, 2012, 5:58 PM EDT) -- Oklahoma natural gas giant Chesapeake Energy Corp. plans to unload $7 billion in assets in the third quarter of 2012, including some Texas producing assets, the latest step in a two-year debt reduction plan, Chesapeake said in an earnings release Monday.

Chesapeake CEO Aubrey McClendon said in the release announcing the energy company's second-quarter earnings for 2012 that it expects to reap net proceeds of roughly $7 billion on third-quarter asset sales. The company sold off roughly $4.7 billion in assets in the second quarter, including...
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