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Chesapeake Puts Shale Field For Sale

Chesapeake Energy Corp confirmed its decision of selling holdings in Arkansas' Fayetteville shale natural gas field and stakes in two companies to raise $5 billion so that it can trim its heavy debt load. Chesapeake said that sales of its Fayetteville shale acreage and equity investments in Frac Tech Holdings LLC and Chaparral Energy are expected to be completed in the first half of the year.