Chesapeake Energy Corp. - 2011-07-12

The company will seek to monetize assets in the Anadarko basin through an IPO for its Chesapeake Granite Wash Trust, according to an S-3 filing with the U.S. Securities and Exchange Commission. The IPO for the royalty trust will seek to raise up to $583.6 million.

The offering will launch under the CHKR symbol on the New York Stock Exchange with the company conveying a 90% royalty interest in its producing wells in the Colony Granite Wash and a 50% royalty interest in its development wells in the play.