Chesapeake Energy $2.6 Billion Oil Asset Monetization Transaction

NASDAQ reported that Chesapeake Energy Corp. (NYSE:CHK) updated on three oil and gas asset monetization transactions of almost $2.6 billion.

As quoted in the market news:

Chesapeake stated that it has completed the sale of preferred shares of a newly formed unrestricted, non-guarantor consolidated subsidiary, CHK Cleveland Tonkawa, L.L.C. or CHK C-T, and a 3.75% overriding royalty interest in the first 1,000 new net wells to be drilled on CHK C-T leasehold and certain wells contributed at closing for proceeds of $1.25 billion.

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