Deals
Chesapeake Sees Asian Utilities in the Hunt for U.S. Gas Fields
- Asians want to balance risk of liquefied natural gas contracts
- Chesapeake is no stranger to Asian deals after sales to China
This article is for subscribers only.
Chesapeake Energy Corp., the U.S. natural-gas producer that’s been selling assets to cut debt by more than $3.8 billion, said Asian utilities have begun kicking the tires at fields it might divest.
Utilities seeking a hedge to gas they’ve contracted to import in liquefied form have shown “significant interest” in “the things we are going to potentially sell,” Chief Executive Officer Doug Lawler said today in a web cast from the Barclays CEO Energy/Power Conference in New York. To raise cash, Chesapeake has been selling assets including gas fields, pipelines and buildings, and has said it will consider partners for joint ventures.