Bloomberg News reports that financially troubled Chesapeake Energy Corp. may be in advanced talks to sell its pipelines to Global Infrastructure Partners for more than $4 billion.
The Oklahoma-based energy company is facing a $22 billion cash-flow shortfall, after natural gas prices dropped to a 10-year low.
It is looking at selling its entire stake in Chesapeake Midstream Partners LP and other pipeline assets, Bloomberg News reported.
The company operates pipelines in Texas, Lousiana and Pennsylvania and other gas-producing areas. It has nearly 4,000 miles of pipelines.
Chesapeake Energy Corp, the parent company, has an additional 1,950 miles of pipelines.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.