Chesapeake Energy to sell 437 gas compression units

Chesapeake Energy said it would sell 437 natural gas compression units and related assets in two separate deals to Access Midstream Partners LP and Exterran Partners LP for a total of $520 million.

Chesapeake, which said earlier this month that it would cut spending by 20 percent this year, is selling assets to plug a $1 billion gap between operating cash flow and capital expenditure.