Chesapeake Energy Has No Significant Property Sales This Year

Chesapeake Energy Corporation (NYSE:CHK)’s announcement of a $1 billion print for the long-awaited sell-down of their Eagle Ford Shale footprint is a key step toward the company’s stated $4 billion asset sale target. While it represents yet another underwhelming sale print, the takeaway from this news is that the company is executing toward its 2013 asset sale target with minimal cannibalization of its production stream. Profitability Weighed Down by Low NG Prices, High Drilling Costs Over the past two years, Chesapeake Energy Corporation (NYSE:CHK)’s  profitability has been weighed down by low natural gas prices and high drilling costs. In 2012, the firm…