Chesapeake Energy Corp.’s stock climbed 1.1% in premarket trade Tuesday, after the oil and gas exploration company said it agreed to sell a portion of its Haynesville Share assets for $465 million to an affiliate of Covey Park Energy LLC. The sale of the northern-Louisiana assets include 41,500 net acres and 326 wells, which are currently producing about 50 million cubic feet of gas per day. The company expects the deal to close in the first quarter of 2017. “Upon closing, this strong bid for our second Haynesville package, along with our recent new issue and tender, will position Chesapeake with significant liquidity as we begin a new year,” said Chief Executive Doug Lawler. The stock has soared 62% year to date through Monday, while the SPDR Energy Select Sector ETF has run up 26% and the S&P 500 has gained 11%.
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