US natural gas producer will sell $ 4 billion pipeline assets

2014-11-05 11:18:06 Market news / News

June 8 evening news, the nation’s second-largest natural gas producer Chesapeake Energy Corporation (CHK) Friday announced that it will sell part of energy pipelines and infrastructure assets from its own through three transactions, which exceed the total amount of the transaction $ 4 billion in cash.

The company’s stake in the pipeline company will ChesapeakeMidstreamPartnersLP (CHKM) to $ 2 billion cash sale to GlobalInfrastructurePartners.

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The company is also part of the sale of natural gas gathering and processing assets to ChesapeakeMidstreamPartners. In a separate transaction, GlobalInfrastructurePartners will acquire its stake in the company’s subsidiaries ChesapeakeMidstreamDevelopmentLP. Both Chesapeake expects cash proceeds from the transaction will bring more than two billion US dollars in.

The company said the deal will enable it in the next three years to cut its capital expenditures of approximately $ 3 billion.Chesapeake is planning to sell assets and cut spending to reduce debt so far this year, the company has announced a total of $ 6.6 billion worth of asset sales.

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