The second-largest producer of natural gas in the United States, Chesapeake Energy Corp., has announced plans to sell part of its Oklahoma shale acreage in order to prop up finances and reduce a massive debt load of around $9.4 billion. Chesapeake announced yesterday that it would sell around 42,000 acres in the Stack field in Oklahoma, which currently produces around 3,800 barrels of oil equivalent per day. The assets will go to Newfield Exploration Co. for an estimated price of $470 million. Furthermore, due to low oil and gas prices, the company will seek to sell additional assets that will bring between $500 million and $1 billion in its coffers by the end of the year. “We anticipate subsequent divestitures during the second and third quarters,” Chief Executive Doug Lawler said in a statement. Despite these difficulties, the company’s shares were up 12 percent at $6.31 […]