Chesapeake asset sales may be delayed
BY ADAM WILMOTH NewsOK.com
Friday, November 02, 2012
OKLAHOMA CITY - Chesapeake Energy Corp. said Friday its planned asset sales likely will be completed in the first quarter of 2013 instead of by the end of 2012 as the company has previously announced.
“We remain absolutely committed to reducing our net long-term debt to no more than $9.5 billion,” said Domenic J. Dell'Osso Jr., Chesapeake's executive vice president and chief financial officer. “And if not achieved by Dec. 31, 2012, we expect to accomplish this No. 1 goal in early 2013.”
The company is still on target to sell $17 billion to $19 billion in assets by the end of 2013, CEO Aubrey McClendon said.
McClendon also praised his company's efforts to increase production.
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