Chesapeake Energy Sells Pipelines in $2 billion Deal

Last month Chesapeake Energy Corporation (NYSE:CHK) had announced it was negotiating the sale of almost $4 billion in pipeline assets to Global Infrastructure Partners (GIP) in two tranches of about $2 billion each. Later in the year it planned to sell almost 1.5 million acres of leasehold land in the Permian basin.

Chesapeake Energy Corporation (NYSE:CHK) announced Monday that it had closed the sale of its general partner stake in Chesapeake Midstream Partners, L.P. (NYSE:CHKM), which owned more than 3,700 miles of gas pipelines, to GIP for $2 billion. With the sale GIP assumes ownership of the partnership’s...