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dDT

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dDT

Re: None

Monday, 12/22/2014 4:39:22 PM

Monday, December 22, 2014 4:39:22 PM

Post# of 648882
Chesapeake closes asset sale to Southwestern, authorizes $1B stock buyback

Chesapeake Energy (NYSE:CHK) +3.2% AH after closing its asset sale to Southwestern Energy (NYSE:SWN) for net proceeds of $4.975B, $400M less than expected due to a settlement for various items, including SWN's waiver of any future claims related to title defects and environmental liabilities.
The properties sold to SWN consist of ~413K net acres and 1,500 wells located in West Virginia and Pennsylvania with 57K boe/day in net production, along with related property, plant and equipment.
Also, CHK's board authorizes a $1B stock buyback program.

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