Chesapeake Energy Corp.'s plan to sell up to $7 billion in assets this year could include the company's 20 percent stake in Oklahoma City-based Chaparral Energy, according to an analyst report released Tuesday.
Chesapeake bought the stake in 2006 and previously said it would begin trying to sell it late last year.
A Chesapeake spokesman declined to comment Tuesday.
Chaparral CEO Mark Fischer said his company is working with Chesapeake to find a buyer for its share of Chaparral. Fischer said he is hopeful the company will have a new shareholder before next year when it plans to become publicly traded.
“The impact on Chaparral would be positive provided that the party that acquires it is aligned with us as to the various growth drivers we have in the country,” Fischer said. “It is very clear that in an attempt of a public offering, Chesapeake's desire to sell would be an overhang.”
While Chesapeake's position could hurt the company's initial public offering price, the uncertainty of the possible sale has had little effect on Chaparral, Fischer said.