US natural gas producer will sell $ 4 billion pipeline assets

June 8 evening news, the nation’s second-largest natural gas producer Chesapeake Energy Corporation (CHK) Friday announced that it will sell part of energy pipelines and infrastructure assets from its own through three transactions,which exceed the total amount of the transaction $ 4 billion in cash.

The company’s stake in the pipeline company will Chesapeake Midstream Partners LP (CHKM) to $ 2 billion cash sale to Global Infrastructure Partners.

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The company is also part of the sale of natural gas gathering and processing assets to Chesapeake Midstream Partners.In a separate transaction,GlobalInfrastructurePartners will acquire its stake in the company’s subsidiaries Chesapeake Midstream Development LP.Both Chesapeake expects cash proceeds from the transaction will bring more than two billion US dollars in.

The company said the deal will enable it in the next three years to cut its capital expenditures of approximately $ 3 billion.Chesapeake is planning to sell assets and cut spending to reduce debt so far this year,the company has announced a total of $ 6.6 billion worth of asset sales.

Haihao Group always pays attention to the US pipeline markets,will keep our excellent works to support our clients in the market.