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Industry Brief

Chesapeake Energy Corp.has completed the sale of all of its ownership stakes in privately held Chaparral Energy Inc. for gross proceeds of $215 million. In connection with the transaction, Chesapeake CFO Nick Dell'Osso has resigned from the Chaparral board. Chesapeake announced its intention to sell its interests in the Oklahoma producer in early 2011, then estimated at 20%, as part of a wide-ranging divestment plan (see Shale Daily, Feb. 8, 2011). Chaparral, a Midcontinent-focused operator, has said it may launch an initial public offering by the end of 2014 (see Shale Daily, Oct. 18, 2013).

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