Chesapeake Delays Asset Sales After Posting $2 Billion Loss

Chesapeake Energy Corp., the U.S. energy producer that wrote down $2 billion in natural gas reserves yesterday, said some asset sales may be delayed as it seeks new buyers. The shares fell the most in four months.

Sales of gas fields and other assets that had been scheduled to occur this year won’t happen until 2013, Chief Financial Officer Nick Dell’Osso said on an earnings conference call today. Among the delayed items is Chesapeake’s 2 million acres in the Mississippi Lime, an Oklahoma and Kansas shale formation that holds crude and gas.