Chesapeake’s Eagle Ford Midstream & Gathering Being Sold to Bridge Funding Gap

CHK is selling Eagle Ford midstream assets in two separate deals
Permian Basin Map

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Chesapeake Energy plans to sell Eagle Ford midstream & gathering assets as part of a larger deal with Global Infrastructure Partners for $2.7 billion. The bulk of the assets included in the deal are located in the Eagle Ford, Haynesville Shale, Utica Shale, and Niobrara Shale in the Powder River Basin of Wyoming. The company is also selling oil gathering assets in combination with other Mid-Continent assets for proceeds of $300 million. The $3 billion midstream deal was one of several divestitures announced earlier in the week that also included the sale of Permian properties for $3.3 billion. The company has planned $13-14 billion in asset sales in 2012 and announced $6.9 billion in sales so far in September 2012.  [Read more…]