Chesapeake Plans to Continue Fire Sale of Assets in 2014

From SNL:
Chesapeake Energy Corp. intends to continue its rapid growth in liquids production while cleaning up its balance sheet, the company said in a presentation released March 24. 
The presentation, which will be introduced at the annual Howard Weil Energy Conference in New Orleans, noted that the company is looking to "achieve investment grade metrics" while striking a balance between capital expenditures and cash flow from operations. 
As part of Chesapeake's efforts, the company said in the presentation, it will continue to divest noncore assets and noncore affiliates while reducing financial and operational risk and complexity. 
Chesapeake said that with asset sales included, its 2013 adjusted production was approximately 231.4 million barrels of oil equivalent, or MMboe. That total, the company said, included 38.5 million barrels of oil, 20.4 MMbbl of natural gas liquids and 1,035 Bcf of natural gas. Chesapeake said it anticipates growing its production by 8% to 10% in 2014, to about 249 MMboe to 253 MMboe. The company expects between 8% and 12% growth in oil production, 4% to 6% growth in gas production, and a jump of 44% to 49% in NGL production.
You can click here to read the rest of that article.

 Here is Chesapeake's presentation for the conference.  Our readers will probably be most interested in slide #14.

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