Chesapeake Corp. said Monday it is planning to make $10 billion to $12 billion of transactions to fund its capital expenditures for 2012.
Among the cash-raising activities, the Oklahoma City, Okla.-based energy company will seek joint venture transactions in its Mississippi Lime and Permian Basin fields; selling about $2 billion in pipeline and infrastructure assets, issuing debt and several other deals. Chesapeake said it may sell its entire 1.5 million acres in the Permian Basin of Texas.
Looking ahead, Chesapeake said its liquids production will allow it to reach equilibrium between its cash flow from operations and its planned drilling and completion capital expenditures in the year 2014.
