Shares of Chesapeake Energy , a member of Real Money’s Stressed Out watch list, were down Thursday after announcing that it will sell its Barnett Shale operating area in North Texas to Saddle Barnett Resources, which is backed by private-equity firm First Reserve. The price of the deal was not disclosed. Chesapeake said that the company will be able to use the proceeds to reduce about $1.9 billion of midstream and downstream commitments and to boost reserves.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
