Chesapeake Energy Corp. Announces Closing of Sale of Its Interests in Chesapeake Midstream Partners, L.P. to Global Infrastru...
02 Juli 2012 - 2:01PM
Business Wire
Chesapeake Energy Corporation (NYSE:CHK) today announced that
Global Infrastructure Partners (GIP) has closed the previously
announced acquisition of all of Chesapeake’s ownership interests in
Chesapeake Midstream Partners, L.P. (NYSE:CHKM) for $2.0 billion,
resulting in an anticipated pretax gain to Chesapeake of
approximately $1.0 billion.
As previously disclosed, Chesapeake is also negotiating the sale
of certain Mid-Continent gathering and processing assets to CHKM
and a separate transaction to sell the company’s interests in its
wholly owned subsidiary, Chesapeake Midstream Development, L.P.
(CMD), to GIP.
Chesapeake Energy Corporation (NYSE:CHK) is the
second-largest producer of natural gas, a Top 15 producer of oil
and natural gas liquids and the most active driller of new wells in
the U.S. Headquartered in Oklahoma City, the company's
operations are focused on discovering and developing unconventional
natural gas and oil fields onshore in the U.S. Chesapeake
owns leading positions in the Marcellus, Haynesville, Bossier, and
Barnett natural gas shale plays and in the Eagle Ford, Utica,
Mississippi Lime, Granite Wash, Cleveland, Tonkawa, Niobrara, Bone
Spring, Avalon, Wolfcamp and Wolfberry unconventional liquids
plays. The company has also vertically integrated its
operations and owns substantial marketing, midstream and oilfield
services businesses directly and indirectly through its
subsidiaries Chesapeake Energy Marketing, Inc., Chesapeake
Midstream Development, L.P. and Chesapeake Oilfield Services,
L.L.C. Further information is available at www.chk.com
where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and news releases.
This press release includes forward-looking statements.
Forward-looking statements give our current expectations or
forecasts of future events. Although we believe the
expectations and forecasts reflected in our forward-looking
statements are reasonable, we can give no assurance they will prove
to be correct. They can be affected by inaccurate
assumptions or by known or unknown risks and uncertainties, and
actual results may differ from the expectations expressed.
The terms of the sale of our Mid-Continent gathering and
processing assets and our wholly owned subsidiary, Chesapeake
Midstream Development, L.P., are subject to negotiation and may not
be completed in the time frame anticipated or at all. We
caution you not to place undue reliance on our forward-looking
statements, which speak only as of the date of this news release,
and we undertake no obligation to update this information.
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