Chesapeake Energy posts smaller loss; to sell some assets to Newfield

May 5, 2016 12:36 PM

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Chesapeake Energy posts smaller loss; to sell some assets to Newfield

Chesapeake Energy Corp, the second-largest U.S. natural gas producer, reported a smaller quarterly loss and said it had struck a $470 million deal with Newfield Exploration Co for some assets in Oklahoma.

Chesapeake said it would sell about 42,000 net acres in Oklahoma's STACK field, with current production of 3,800 barrels of oil equivalent per day.

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