Closing its Ohio JV with Total (TOT) just before 2011 ended gives Chesapeake Energy (CHK +3.9%)...

|About: Chesapeake Energy Corporation (CHK)|By:, SA News Editor
Closing its Ohio JV with Total (TOT) just before 2011 ended gives Chesapeake Energy (CHK +3.9%) nearly $2.5B in cash from three Q4 deals, and analysts “expect to see substantially all of the cash infusion be allocated to paying down" CHK's $3.2B balance in its revolving credit line. If it can reduce long-term debt to $10B or below, “it can assuage investors who remain wary of the company’s debt level.”