Chesapeake Sells Assets To Help Reduce Long-Term Debts Of $10.6 Billion


With natural gas prices at a ten year low many nat gas producers are struggling to make any profits. Chesapeake Energy Corp. has found itself with mounting debts and has therefore sold off $2.6 billion worth of assets in attempt to raise cash. Chesapeake was the second largest producer of natural gas in America, but moved away from extracting more gas as the prices fell; instead it is now concentrating on reducing its $10.6 billion of long-term debt. Chesapeake has been following a strategy to raise its production levels of natural gas liquids,…

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