Chesapeake's Permian Assets Get A Look From Anadarko

Chesapeake's Permian assets get a look from Anadarko Houston Chronicle Copyright 2012 Houston Chronicle. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Published 10:09 p.m., Tuesday, May 15, 2012 Debt-ridden Chesapeake Energy said Tuesday that Goldman Sachs has agreed to raise the amount of an unsecured loan from $3 billion to $4 billion, and Anadarko Petroleum Corp.'s CEO said the company might be interested in some Permian Basin assets Chesapeake wants to sell to help its balance sheet. Analysts say that the $1 billion bump announced Tuesday supports Chesapeake's claim that the Goldman Sachs loan, funded by a group of institutional investors, represents a vote of confidence, at least regarding the Permian sale. The credit rating agency believes that Chesapeake is struggling to generate enough cash to pay off its debts as natural gas prices remain low.