Reuters: Mergers News: Chesapeake planning deals in coming quarters

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Chesapeake planning deals in coming quarters Mar 26th 2012, 19:09 NEW ORLEANS, March 26 | Mon Mar 26, 2012 3:09pm EDT NEW ORLEANS, March 26 (Reuters) - Chesapeake Energy Corp expects to strike a joint venture for its acreage in the Mississippi Lime formation in Oklahoma in the second quarter, its CEO said on Monday. The deal will consist of a large one covering 2 million acres or will be comprised of several smaller deals, Aubrey McClendon, Chesapeake's chief executive officer, told the Howard Weil energy conference. Chesapeake now expects to sell its assets in the Permian Basin assets in Texas and New Mexico rather than find a joint venture partner as it had initially said. "I think we'll probably end up selling our Permian assets in total," McClendon said.

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