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At Last, Chesapeake Sells Chaparral Energy Stake For $215 Million

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By Darren Barbee, Hart Energy
January 21, 2014

Chesapeake Energy Corp.(NYSE:CHK) said Jan. 17 that it has sold 100% of its ownership interest in Chaparral Energy Inc.for $215 million.

Domenic J. Dell’Osso Jr., Chesapeake’s chief financial officer, commented, “This sale demonstrates the continued refinement and focus of our portfolio around core assets and continues our strategy of reducing financial complexity.”

Chesapeake said the asset had been non-core for some time and was ready to sell when the right offer came along. As an equity investment, the sale will have no revenue or cash flow impact to Chesapeake, the ...

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