Chesapeake bought its stake in the oil company in 2006 as a way to expose the natural gas company to oil prices.
Tuesday's Wells Fargo report estimated that the 20 percent stake in Chaparral is worth about $280 million, up from the $178 million Chesapeake paid for it in 2006. At that price, Chaparral's total valuation would be about $1.4 billion.
“Chesapeake has been a very good shareholder,” Fischer said. “They've been very passive, but when necessary, they would give us important information they thought we might need.”
Chesapeake has announced $1.5 billion in asset sales so far this year and has said it plans to sell a total of $4 billion to $7 billion by the end of the year. Chesapeake sold more than $11 billion in assets in 2012.