[Context: On December 5, Chesapeake Energy sold Haynesville assets for USD 450m to an undisclosed buyer. The buyer has been identified ad Indigo Minerals, backed by Trilantic North America, according a report by Reuters.]

Chesapeake Energy Corporation Announces Agreement To Sell First Of Two Haynesville Shale Acreage Positions For $450 Million

Transaction results in approximately $2.0 billion in gross divestiture proceeds either signed or closed to date in 2016

OKLAHOMA CITY, Dec. 5, 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 $450 million to a private company. Included in the sale are approximately 78,000 net acres, 40,000 net acres of which the company considered as core acreage. The sale also includes 250 wells currently producing approximately 30 million cubic feet of gas per day, net to Chesapeake. The company expects this transaction to close in the 2017 first quarter.

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