Shares of Chesapeake Energy (CHK) are trading up 7.5%, at $4.73, in after-hours trading, following an announcement the company plans to sell its position in the Utica Shale for $2 billion. After the market closed Thursday, Chesapeake announced it would sell the Utica Shale assets to privately held Encino Acquisition Partners. Chesapeake said it intends to use $1.9 billion of the sale's proceeds to reduce debt. (stephen.nakrosis@wsj.com)

(END) Dow Jones Newswires

July 26, 2018 17:32 ET (21:32 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Chesapeake Energy (NASDAQ:CHK)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Chesapeake Energy Charts.
Chesapeake Energy (NASDAQ:CHK)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Chesapeake Energy Charts.