Chesapeake Energy Corporation Announces Agreement To Sell Second Haynesville Shale Acreage Position For $465 Million

OKLAHOMA CITY, Dec. 20, 2016 /PRNewswire/ — Chesapeake Energy Corporation (NYSE:CHK) today announced that it has signed an agreement to sell a portion of the company’s acreage and producing properties in its Haynesville Shale operating area in northern Louisiana for approximately $465 million to an affiliate of Covey Park Energy LLC. The sale includes approximately 41,500 net acres and 326 operated and non-operated wells currently producing approximately 50 million cubic feet (mmcf) of gas per day, net to Chesapeake. The company expects this transaction to close in the 2017 first quarter.

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