Chesapeake Looks to Selling OK Acres, Master Ltd Partnerships Praised: Energy Biz Update
Chesapeake Energy Corporation (NYSE:CHK) wants to divest approximately 37,000 acres, along with 42 producing wells, in Oklahoma, so as to raise cash to pay down a funding shortfall. Bids for the assets are due on November 27th. Thus far in 2012, the company has sold some $12 billion worth of assets year.
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Credit Suisse says that master limited partnerships are still relatively undervalued, when compared to other yield-oriented securities, and fairly valued from the basis of overall yield. The firm has named a number of stocks, including DCP Midsteam Partners (NYSE:DPM), MarkWest Energy Partners (NYSE:MWE), Oneok Partners (NYSE:OKS), and El Paso Pipeline Partners (NYSE:EPB), as attractively priced, and are also especially high-quality names with exposures to natural gas liquids.
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