Chesapeake shares jump after Reuters reveals $1 bln asset sale

Reuters was first to report that Dallas Cowboys owner Jerry Jones’ Comstock Resources is in talks to buy Chesapeake Energy Corp’s Haynesville shale assets in Louisiana, the latest move by one of the U.S. energy sector’s fallen giants as it strives to pay down some of an almost $10 billion debt pile. Shares in Chesapeake, which have fallen from a high of around $70 a decade ago to less than 70 cents this week, jumped as much as 16% on the news.

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas