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Chesapeake Energy to Sell Assets for $6.9 Billion

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(Corrects to include midstream and non-core asset sales in first paragraph.)

Sept. 12 (Bloomberg) -- Chesapeake Energy Corp. agreed to sell properties in the Permian basin, pipeline and gathering assets and non-core acreage for $6.9 billion in separate transactions.

The company will use the proceeds from these asset sales to repay its $4 billion term loans during the fourth quarter, Oklahoma City-based Chesapeake said in a statement today.

Chesapeake said buyers included Royal Dutch Shell Plc and Chevron Corp.

To contact the reporter on this story: Jessica Resnick-Ault in New York at jresnickault@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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