After selling about $10.8 billion in assets throughout 2012, it looks as though Chesapeake Energy (OTC:CHKA.Q) is on track for more big sales in 2013. The company just announced this week that it plans to sell 98,000 acres in the Utica shale region of Ohio. Once the sale is completed, it will be the third large influx of capital this year, after the company inked $3.2 billion in joint ventures with Sinopec (NYSE:SHI) and Total (NYSE:TOT) this year.
While the assets for sale are a more speculative play that has yet to be fully assessed, assets in the Utica could be a hot commodity. With a stronger liquids profile than its neighbor the Marcellus, midstream companies are investing big money to bring pipeline online in the region to increase takeaway capacity. In this video, Fool.com contributor Tyler Crowe looks at what this asset sale means to Chesapeake's presence in the Utica and who could be some potential buyers for this stake.
With each new sale and joint-venture deal, Chesapeake is slowly digging itself out of its massive debt hole and resembling a powerhouse in the energy space. With huge land holdings in some of the most promising shale plays in the United States, Chesapeake still has enormous potential. Let us help you better understand this U.S. energy giant by checking out The Motley Fool's brand-new premium report on the company. Simply click here now to access your copy.