OKLAHOMA CITY (AP) -- Chesapeake Energy is selling most of its Permian Basin properties in West Texas, its storage facilities and pipelines and some leasehold assets in multiple deals for about $6.9 billion in cash.
The Oklahoma City company is selling assets in the southern Delaware Basin portion of the Permian Basin to a Royal Dutch Shell PLC subsidiary. It's selling assets in the northern Delaware Basin to a Chevron Corp. subsidiary. Chesapeake previously announced it was selling assets that pump oil and gas in the Midland Basin to EnerVest Ltd. affiliates.
Chesapeake Energy Corp. plans to sell most of its pipeline and storage assets to Global Infrastructure Partners for about $2.7 billion.
The sales will help pay back $4 billion of term loans during the fourth quarter.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Also in the headlines
A 6-year-old boy has died after falling through the ice on a south Tulsa creek, according to police.
Pictures of the first winter storm of the season, Dec. 5 and 6.
Oklahoma defeated Oklahoma State 33-24 in Stillwater, preventing the Cowboys from winning the Big 12 title and a trip to the Fiesta Bowl.
The live musical performance of the Sound of Music starring Carrie Underwood aired on NBC December 5, 2013.