Chesapeake Energy to Sell Assets for $6.9 Billion

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.

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