Chesapeake Energy Corp said it would sell 437 natural gas compression units and related assets in two separate deals to Access Midstream Partners LP and Exterran Partners LP for a total of $520 million.The No.2 U.S. natural gas producer is selling assets to plug a $1 billion gap between operating cash flow and capital expenditure and said earlier this month that it would cut spending by 20 percent this year.Access Midstream Partners has agreed to purchase 103 compression units, which service gathering systems in Ohio, Pennsylvania and West Virginia, for $160 million.The 334 compression units Exterran Partners has agreed to purchase for $360 million service gathering systems in Arkansas, Louisiana, Oklahoma, Texas and Wyoming.
Access Midstream Partners, L.P., formerly Chesapeake Midstream Partners, L. Shares of ACMP fell by 0.82% or $-0.47/share to $56.89. In the past year, the shares have traded as low as $37.00 and as high as $59.19. On average, 423031 shares of ACMP exchange hands on a given day and today's volume is recorded at 8765.
Chesapeake Energy Corporation (Chesapeake) is a natural gas and oil exploration and production company. Shares of CHK traded higher by 1.0% or $0.26/share to $26.16. In the past year, the shares have traded as low as $18.21 and as high as $29.06. On average, 9504020 shares of CHK exchange hands on a given day and today's volume is recorded at 479289.
Exterran Partners, L.P. provides natural gas contract operations services to customers throughout the United States. Shares of EXLP fell by 0.24% or $-0.07/share to $29.41. In the past year, the shares have traded as low as $23.40 and as high as $32.39. On average, 100503 shares of EXLP exchange hands on a given day and today's volume is recorded at 8721.
Source
