In Play!Yahoo -- Monday, February 13, 2012

Chesapeake Energy targets $10-12 billion in asset monetizations during the year and announces $1.0 billion offering of senior notes due 2019 Co provided details on its financial plan to fully fund the company's anticipated capital expenditures during 2012 and provide additional liquidity for 2013. Co has also recently received industry inquiries about a complete exit from the Permian Basin and today is announcing that it may consider a 100% sale of its Permian Basin assets if it receives a compelling offer. Co believes the Mississippi Lime joint venture, a Permian Basin transaction and various other minor asset sales could result in cash proceeds to Chesapeake of ~ $6-8 billion in 2012. The co is targeting completion of these transactions by the end of the 2012 third quarter. Furthermore, Chesapeake anticipates monetization proceeds of ~ $2 billion during 2012 involving a portion of its midstream assets, service company assets and miscellaneous investments, bringing estimated total monetization cash proceeds in 2012 to $10-12 bln. [Comment: $14 billion cap; $12 billion debt; to the best of my knowledge, the Permian does not include the Rocky Mountain (Bakken).]