Chesapeake to sell WV gas compression units - Beckley, Bluefield & Lewisburg News, Weather, Sports

Chesapeake to sell WV gas compression units

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • One person injured after ATV accident in Fayette County

    One person injured after ATV accident in Fayette County

    Saturday, August 30 2014 4:37 AM EDT2014-08-30 08:37:47 GMT
    Emergency crews were called to the scene of a ATV accident, just before 10 pm Friday.According to Fayette County 911 the ATV was struck by a vehicle along the 1900 block of Rt 60 Anstead area of Fayette County.One person was transported by helicopter, to a local hospital for treatment, The extent of those injuries or what caused the accident is not yet known at this time.The Fayette County Sheriff Department is investigating.
    Emergency crews were called to the scene of a ATV accident, just before 10 pm Friday.According to Fayette County 911 the ATV was struck by a vehicle along the 1900 block of Rt 60 Anstead area of Fayette County.One person was transported by helicopter, to a local hospital for treatment, The extent of those injuries or what caused the accident is not yet known at this time.The Fayette County Sheriff Department is investigating.
  • Intruder Kicks in Door at Apartment in Beckley

    Intruder Kicks in Door at Apartment in Beckley

    Friday, August 29 2014 11:27 PM EDT2014-08-30 03:27:05 GMT
    Beckley Police are searching for two suspects after a burglary at the Lewis Ritchie Apartments in Beckley around 10:00 Friday night (8/29). 
    Beckley Police are searching for two suspects after a burglary at the Lewis Ritchie Apartments in Beckley around 10:00 Friday night (8/29). 
  • 21st annual Beckley's Kids Classic Festival kicks off Saturday

    21st annual Beckley's Kids Classic Festival kicks off Saturday

    Friday, August 29 2014 6:22 PM EDT2014-08-29 22:22:20 GMT
    The 21st annual Beckley's Kids Classic Festival kicks off Saturday with the Autumn Fest at Lake Stephens.
    The 21st annual Beckley's Kids Classic Festival kicks off Saturday with the Autumn Fest at Lake Stephens.

Chesapeake Energy Corp. announced Feb. 28 it had executed two agreements to sell midstream compression assets, including some in West Virginia, for $520 million.

Access Midstream Partners has agreed to purchase 103 compression units with a combined capacity of about 200,000 horsepower for $160 million. The units service gathering systems in Ohio, Pennsylvania and West Virginia.

Exterran Partners has agreed to purchase 334 compression units with a combined capacity of approximately 440,000 horsepower for approximately $360 million. The units service gathering systems in Arkansas, Louisiana, Oklahoma, Texas and Wyoming.

Chesapeake said both transactions should close before the end of the second quarter.

"Chesapeake continues to streamline its overall portfolio to focus on our core assets," said Domenic J. Dell'Osso Jr., Chesapeake's chief financial officer. "These sales are consistent with this strategy and will generate more than $500 million towards improving our balance sheet, while having minimal impact on our 2014 cash flow guidance."