Chesapeake To Sell $450 Million Stake In Haynesville Shale

According to a report from Reuters, Oklahoma City-based Chesapeake Energy Corp will sill a part of it's stake in Louisiana's Haynesville Shale.

The company told Reuters the asset includes 78,000 net acres and 250 wells net producing over 30 million cubic feet of gas per day.

This deal now pushes Chesapeake's gross divesture proceeds to about $2 billion for 2016. The company still owns about $7 billion in debt they plan to make up throughout 2017.