Tesoro Logistics LP (NYSE: TLLP) will pay $2.5 billion in cash, including $230 million to refinance debt for the assets.
The acquisition will roughly double Eagle's frack sand production capacity and expand its frack sand reserves.
Energy XXI CEO John Schiller shares his views on the foundation for a sustainable company.
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.