In the video below, Motley Fool energy analysts Joel South and Taylor Muckerman discuss Chesapeake Energy (NYSE:CHK) and what to expect after the company sold the remainder of its midstream assets to Access Midstream Partners (UNKNOWN:ACMP.DL)

Shareholders want to know when Chesapeake will start closing the gap between its share price and its net asset value. While the answer to this question will unfold over the coming years, Chesapeake made progress last week by closing its funding gap and reaching management's stated goal of $9.5 billion net debt. 

In addition to cutting its net debt by $6.5 billion in the past five months, Chesapeake also has $7 billion in liquidity, which should close 2013's funding gap. Check out the video below to see if this lighter Chesapeake is ready to surge over the next year. 

Joel South and Taylor Muckerman have no positions in the stocks mentioned above. The Motley Fool has the following options: long JAN 2013 $16.00 calls on Chesapeake Energy, long JAN 2014 $20.00 calls on Chesapeake Energy, long JAN 2014 $30.00 calls on Chesapeake Energy, and short JAN 2014 $15.00 puts on Chesapeake Energy. Motley Fool newsletter services recommend Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.