SALT Conference – US Business News — Pickens Sells Stake in Chesapeake Energy – CNBC

SALT Conference – US Business News — Pickens Sells Stake in Chesapeake Energy – CNBC.

By: Kate Kelly
CNBC Reporter
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AP
Boone Pickens recently sold his entire stake in Chesapeake Energy.

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.

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