Chesapeake Energy Corp (CHK.N) said it would put property in a natural gas field in Louisiana and stakes in two companies up for sale to raise $5 billion. The company, one of the largest natural gas producers in the United States, said that sales of its Fayetteville shale acreage and equity investments in Frac Tech Holdings LLC and Chaparral Energy are expected to be completed in the first half of the year. Proceeds from the sale, as well as a recently announced partnership in the Niobrara fields, would be used to cut its debt, the company said. (Reporting by Matt Daily, Editing by Maureen Bavdek)
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