Sinopec’s U.S. Shale Deal Struck at Two-Thirds’ Discount

Sinopec’s U.S. Shale Deal Struck at Two-Thirds’ Discount

Sue Ogrocki/AP Photo

The Chesapeake Energy Arena, named for Chesapeake Energy Corp., is pictured in Oklahoma City. Chesapeake agreed to sell more than $12 billion in oilfields and pipelines since the beginning of 2012 to plug a cash-flow deficit aggravated by low prices for natural gas, which accounts for about 80 percent of the company’s output.