Chesapeake sells $5.4 billion in assets

Big news in the oil & gas market today - Chesapeake Energy has sold $5.4 Billion in assets to Southwestern Energy, The assets include a total of 435 wells, some of which are located in southwestern Pennsylvania. The deal does not appear to involve any Chesapeake assets in or around Bradford County or northern Pennsylvania. This transaction appears to be part of Chesapeake's ongoing efforts to reduce what the Wall Street Journal today referred to as its "mammoth debt." Although it does not appear that this transaction will have any direct impact on Chesapeake royalty owners in Bradford and surrounding counties, it is, on balance, good news in that it helps to ensure that Chesapeake remains economically viable in the long run, particularly given recent declines in the price of gas. 

http://www.bizjournals.com/houston/morning_call/2014/10/southwestern-energy-buys-chesapeake-assets-for-5.html?page=all