Chesapeake Energy plans to sell its producing oil assets in South Texas in the hopes of pocketing some $2 billion, Reuters has reported, citing two anonymous sources. Chesapeake filed for bankruptcy in June last year and agreed to eliminate $7 billion in debt during the restructuring it entered into under Chapter 11 protection. Chesapeake had a total debt load of $9 billion at the time of its last financial report before filing, and few ways to reduce this meaningfully amid the oil and gas price depression on global markets. It had been close…
