NEW YORK, Feb 7 (Reuters) - Chesapeake Energy Corp (CHK.N) wants to sell holdings in Arkansas' Fayetteville shale natural gas field and stakes in two companies to raise $5 billion and trim its heavy debt load.
Chesapeake has been one of the most aggressive U.S. energy companies in snapping up properties in shale gas fields across the United States, but that buying spree has left it awash in debt and short of cash to drill new wells.Who are they trying to sell their interests to? BP? China? Now let's remember what they said....it's all about America's energy security.
Read Reuters report here.