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by Bloomberg
|Friday, April 30, 2021
Chesapeake Energy Corp is seeking to sell oil-producing assets in South Texas for as much as $2 billion, according people familiar with the plan.
(Bloomberg) Chesapeake Energy Corp., the once mighty shale explorer that exited bankruptcy earlier this year, is seeking to sell oil-producing assets in South Texas for as much as $2 billion, according people familiar with the plan.
The Oklahoma City-based producer is working with a pair of advisers to offer the assets in the Eagle Ford shale, said the people, asking not to be named because the discussions are private.
Once known for its aggressive growth through acquisitions during the shale boom, Chesapeake joined other producers in filing for bankruptcy protection last year after the pandemic devastated demand for energy. When the company exited restructuring in February, CEO Doug Lawler declared it was “a new era for shale.”
Chesapeake seeks to sell south Texas shale assets for $2 billion By Sergio Chapa and Kiel Porter on 4/30/2021
(Bloomberg) â Chesapeake Energy Corp., the once mighty shale explorer that exited bankruptcy earlier this year, is seeking to sell oil-producing assets in South Texas for as much as $2 billion, according people familiar with the plan.
The Oklahoma City-based producer is working with a pair of advisers to offer the assets in the Eagle Ford shale, said the people, asking not to be named because the discussions are private.
Once known for its aggressive growth through acquisitions during the shale boom, Chesapeake joined other producers in filing for bankruptcy protection last year after the pandemic devastated demand for energy. When the company exited restructuring in February, CEO Doug Lawler declared it was âa new era for shale.â