Financially strapped Chesapeake Energy Corp. could be forced to sell of lucrative assets in Ohio and south Texas, according to the Wall Street Journal.
At the beginning of the year, the Oklahoma-based company said it wanted to sell up to $14 billion in assets.
That means the company must sell of $7 billion beforfe the end of the year and $2 billion next year, the paper reported last week,
Analyst Biju Perincheril said it is likely that Chesapeake will be forced to sell off its prized assets in Ohio or south Texas.
Those fields are likely to produce lucrative oila and so-called wet gases inclkuding ethane, propane and butane.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
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