Chesapeake Energy has been promising investors that the deal would come to fruition, but most analysts thought the deal wouldn't be announced until the first quarter of 2013. However, management finalized the deal before Christmas, sending the company's remaining midstream assets to ACMP in return for $2.16 billion. This deal will put Chesapeake on pace to close 2012 with a net debt around $9.5 billion, meeting management's two-year debt reduction plan. Will this first milestone be the kick start Chesapeake needs?
Energy investors would be hard-pressed to find another company trading at a deeper discount than Chesapeake Energy. Its share price depreciated after negative news surfaced concerning the company's management and spiraling debt picture. While these issues still persist, giant steps have been taken to help mitigate the problems. To learn more about Chesapeake and its enormous potential, you're invited to check out The Motley Fool's brand new premium report on the company. Simply click here now to access your copy, and as an added bonus, you'll receive a full year of key updates and expert guidance as news continues to develop.