SALT Conference – US Business News — Pickens Sells Stake in Chesapeake Energy – CNBC
May 12, 2012
SALT Conference – US Business News — Pickens Sells Stake in Chesapeake Energy – CNBC.
By: Kate Kelly
CNBC Reporter
CNBC Reporter
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AP
Boone Pickens recently sold his entire stake in Chesapeake Energy.
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Worried about the collapsing price of natural gas, Boone Pickens recently sold his entire stake in Chesapeake Energy, he told CNBC during an exclusive interview at the SALT alternative-asset conference in Las Vegas.
Pickens, who manages a $140 million energy-focused equity fund as part of his investment firm BP Capital, held about $13 million worth of Chesapeake [CHK 14.81 
-2.37 (-13.8%) 
] shares, which made up 9 percent of BP’s equity portfolio as of late December, according to a recent filing. But Pickens told CNBC he sold that position in the last few months as the price of gas spiraled below $2.
GDACC 
