Chesapeake Whittles Debt, Eyes More Asset Sales

摘要

Chesapeake Energy continued to chip away at its mountain of debt in the second quarter, paying down another $700 million while also announcing new asset sales to bring in muchneeded capital. Despite its persistent financial woes, the Oklahoma City-based producer said it will maintain its 10-rig drilling program from the rest of 2016 thanks to rising natural gas and liquids prices and falling well costs. "Financial discipline remains our top priority, and we continue to work toward additional solutions to improve our liquidity, reduce our midstream commitments and enhance our margins," Chief Executive Doug Lawler told analysts on a conference call Thursday.