Chesapeake Energy Corporation has entered into a definitive agreement to sell a substantial majority of its remaining midstream assets to Access Midstream Partners, L.P. for approximately $2.16 billion.

These midstream assets are located primarily in the company's Marcellus, Utica, Eagle Ford, Haynesville and Niobrara shale plays. The transaction with Access includes new market-based gathering and processing agreements covering various acreage dedication areas and is expected to close by the end of 2012.

Additionally, the company has recently completed the sale of other midstream assets in Oklahoma and Texas during the 2012 fourth quarter for approximately $175 million.

Tags: Chesapeake Energy Corporation