Debt-laden Chesapeake Energy, the second-largest US natural gas producer, said on Thursday it was selling $470-million in assets in Oklahoma to Newfield Exploration Co as part of a plan to shore up its finances through divestitures.
Chesapeake’s shares were up 12% at $6.31 in premarket trading after the company reported a smaller quarterly loss and cut its production expense forecast for the year. They later traded at $5.97, up 5.7%.
