Chesapeake Energy has agreed to sell part of its operations in south Texas to private equity-owned WildFire Energy for $1.4 billion in cash, succeeding only partly in exiting its position in the region, Reuters’ David French and Sharig Khan report, citing people familiar with the matter. Chesapeake has been trying to divest its entire South Texas operations to focus on natural gas-producing acreage in other parts of the United States, the authors note. The deal it has clinched falls short of meeting the demands of activist investor Kimmeridge Energy Management, that is among the 15 largest Chesapeake shareholders, to exit South Texas entirely, the publication adds. Reference Link
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