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Baker Botts Represents Chesapeake Energy in Sale of Compression Units, Related Assets

Release


HOUSTON, February 28, 2014 – Chesapeake Energy Corporation (NYSE:CHK) announced today the execution of two agreements to sell midstream compression assets for total proceeds of approximately $520 million.

Access Midstream Partners, L.P. (NYSE:ACMP) and Exterran Partners, L.P. (NASDAQ:EXLP) have agreed to purchase an aggregate of 437 compression units and related assets from Chesapeake subsidiary MidCon Compression, L.L.C. in two separate transactions which, subject to certain closing conditions, are expected to close before the end of the 2014 second quarter.

Access Midstream Partners has agreed to purchase 103 compression units with a combined capacity of approximately 200,000 horsepower for $160 million. The units service gathering systems in Ohio, Pennsylvania and West Virginia.

Exterran Partners has agreed to purchase 334 compression units with a combined capacity of approximately 440,000 horsepower for approximately $360 million. The units service gathering systems in Arkansas, Louisiana, Oklahoma, Texas and Wyoming.



About Baker Botts L.L.P.
Baker Botts is an international law firm of approximately 700 lawyers practicing throughout a network of 15 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Throughout our 174-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit BakerBotts.com.

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