Tag: CHK

Exco Resources to Buy Chesapeake Assets Worth $1 Billion (CHK, XCO)

As a part of its broader strategy to sell assets worth $7 billion this year to strengthen its balance sheet, Chesapeake Energy Corp. (NYSE: CHK)  announced on Wednesday that it will sell part of its assets (Eagle Ford and Haynesville Shales) to Exco Resources Inc. (NYSE: XCO) for $1 billion. The move will bring much needed cash at a time when Chesapeake just like any other gas and energy company is reeling under pressure due to low prices amid supply glut. The deal is expected to close by end of this month.

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Transocean Gains as Noted Investor Carl Icahn Buys Stake (RIG)

Shares of Transocean Ltd. (NYSE: RIG) gained on Monday after the world’s largest offshore rig contractor revealed that billionaire investor, Carl Icahn has acquired a 1.56 percent stake in the company and is considering to expand his holding in the company.

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Chesapeake Energy Negotiates Higher Prices for Some its Assets (CHK)

Chesapeake Energy Corp. (NYSE: CHK) on Wednesday announced that it has successfully negotiated higher prices for some of its premium assets. The oil and gas producer said that these deals involving lands and infrastructure will help raising $6.9 billion -which is approximately half of its net debt that company is looking to lower by the end of this year. Nonetheless, stock ended lower.

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Chesapeake Energy Announces Sale of Pipeline Assets (CHK)

Chesapeake Energy Corporation (NYSE: CHK), today, announced that is planning to sell its pipeline and related assets to Global Infrastructure in three separate transactions for over $4 billion. CHK is selling its pipeline assets in order to plug a funding shortfall.

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Chesapeake Energy Shares Rise as Company Secures $3 Billion Loan (CHK)

Chesapeake Energy Corporation (NYSE: CHK), a natural gas and oil exploration and production company, late Friday, announced that it entered into a $3 billion unsecured loan from Goldman Sachs Bank USA and affiliates of Jefferies Group Inc. The announcement has sent CHK shares sharply higher in trading today.

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