Why Is Chesapeake Selling Oil-Heavy Assets?

In the following video, Motley Fool energy analysts Joel South and Taylor Muckerman discuss a new deal by Chesapeake Energy (CHK +0.00%) to sell off some acreage in two solid shale plays. Joel breaks the deal down for investors and talks about the production the company will be losing, as it moves toward its goal of selling off between $6 billion and $7 billion in assets this year. He also explains to investors why the company needs that funding at the moment, and what its development plans are for the future.