Weak gas forces Chesapeake to sell assets

摘要

Washington-Low natural gas prices forced an early end to the annual guessing game as to whether Chesapeake Energy could find the cash to finance its operations when the Okla- homa City producer announced February 13 it would turn some of its assets into between $10 billion and $12 billion in cash. Without announcing any done deals, Ches- apeake said it would use its usual buffet of cash-generating tactics-joint ventures, volu- metric production payment plans, play-specific subsidiaries and outright sales-to muster up the money it needs to keep reducing debt and finance its drilling and leasing efforts this year and next.