Chesapeake Energy Corporation has completed the sale of 100% of its ownership interest in Chaparral Energy, Inc. (Chaparral). The transaction closed on January 13, 2014 for gross proceeds of $215 million.

Domenic J. Dell'Osso, Jr., Chesapeake's Chief Financial Officer, commented, 'This sale demonstrates the continued refinement and focus of our portfolio around core assets and continues our strategy of reducing financial complexity.'

In connection with this transaction, Mr. Dell'Osso resigned from the Chaparral board of directors.

Tags: Chesapeake Energy Corporation