Chesapeake Energy said it plans to sell part of its acreage in the Haynesville shale area for $450million to a private firm.
Shares in the company were up by 5% on the back of the announcement.
The firm said the asset includes about 78,000 net acres, 40,000 of which is core acreage.
The sale also includes 250 wells with a current production of about 30million cubic feet of gas per day.
Chesapeake said including this transaction it has reached about $2billion in gross proceeds from divestitures either signed or closed in 2016, excluding certain volumetric production payment repurchase transactions.
The transaction is expected to close in the first quarter of next year.
Last month, Chesapeake said it planned to sell more assets this year, including about 126,000 net acres in the Haynesville shale field in Louisiana.
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