Chesapeake Energy Corp is looking to sell about 337,000 acres of its holdings in Ohio, as it works to raise money to meet an expected cash shortfall, according to a prospectus released by one of its advisers.This is not good news for long-term shareholders but what with the board shake-up and the Hogshooter discovery well, the stock is up 6% at $16.51.
The holdings on the block include some in the Utica shale. The prospectus was posted on the website of Meagher Energy Advisors, an energy-focused asset acquisition and divestiture boutique firm that has sold assets for Chesapeake in the past.
Monday, June 4, 2012
Posted by climateer at 1:08 PM