Chesapeake has already sold roughly $1.4 billion of E&P assets so far this year.
So far this year, the Midcontinent, Rockies Mountains and onshore Gulf Coast have generated the most activity and deal value.
With the acquisition, the company is now operating in a majority of the key energy resource plays in the U.S.
E&P borrowers often forget the strings (and sometimes ropes) that come with capital.
The deal adds roughly 30% of reserves to the company’s 19.1 MMboe.
The remainder of Atlas Energy's E&P holdings will be spun off before they are acquired by Targa Resources.