Chesapeake Sells $300M In Midstream Assets To SemGroup

Law360, New York (May 1, 2013, 3:57 PM EDT) -- Natural gas giant Chesapeake Energy Corp. has sold its midstream gas services subsidiary, which owns significant assets in the Mississippi Lime shale in northern Oklahoma, to SemGroup Corp. for $300 million in cash, SemGroup said Wednesday.

The debt-ridden energy company sold its equity interest in subsidiary Mid-America Midstream Gas Services LLC, which owns natural gas gathering and processing assets in the Mississippi Lime.

The deal, which is expected to close in the third quarter of 2013, includes 200 miles of gathering pipeline and two gas processing...
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