Chesapeake Sells Eagle Ford, Haynesville Assets

This morning, Chesapeake Energy (CHK) announced it would sell various Eagle Ford and Haynesville shale assets to Exco Resource (XCO) for about $1 billion. Chesapeake Energy has announced previously that it plans to pay down its debt through asset sales and the deal with Exco Resources will help close the $3.5 billion funding gap the company this year.