Chesapeake’s stock fell 14 percent on Friday after a filing that led many to believe that major asset sales in the Permian and Mississippi Lime were in jeopardy. But “the reference was to a so-called volumetric production payment deal in the Eagle Ford,” the WSJ reports.
He said the company also has identified noncore assets it plans to sell in the second half of 2012 and continuing into 2013 to make sure it has enough money to meet its ambitious spending plans. Mr. McClendon said the company he founded chose to take a $3 billion unsecured loan from Goldman Sachs Group Inc. and Jefferies Group Inc. in order to assure investors that it is well positioned to evolve from being primarily a natural-gas producer to one more focused on oil.
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