Chesapeake Energy May Fare Better Keeping Its Pipeline Unit

Chesapeake Energy Corp., which is looking for assets to sell to cut debt and close a funding gap, may want to hold onto its cash-generating pipeline unit, Chesapeake Midstream Partners LP.

Chesapeake, the second-biggest U.S. natural-gas producer, is seeking to sell as much as $20.5 billion assets through next year to fill a cash-flow shortfall. Facing gas prices near a 10-year low and scrutiny of its chief executive officer, the company has said it may sell part of its midstream assets by the end of September to help raise cash.