Chesapeake's Asset Sales Are a Mixed Bag
As natural gas prices have collapsed, Chesapeake Energy has been making enormous moves to get out from the effect of low natural gas prices. That's no easy feat for the second largest natural gas producer in the U.S.. To make the move, Chesapeake has been operating a drilling program that will average more than 100 rigs in 2012. And to fund this immense drilling program, Chesapeake has been selling off assets from the massive collection it got during the shale gas and shale oil land grabs over the past several years. Recently, Chesapeake announced almost $7 billion in asset sales this quarter, which included much of its Permian Basin acreage, some of its Utica shale holdings, and the rest of its midstream holdings. Watch the following video for the full analysis.
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The article Chesapeake's Asset Sales Are a Mixed Bag originally appeared on Fool.com.Matthew Argersinger has no positions in the stocks mentioned above. Paul Chi and The Motley Fool have options on Chesapeake Energy. Motley Fool newsletter services recommend Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.