"Table of ContentsChesapeake Energy (CHK) ............................................................................................................................. 3What Do the Midstream Assets Entail? ........................................................................................................ 3Chesapeake’s Decision to Divest Midstream Assets Is Good for Investors .................................................. 4For Energy Companies, It Is All About Divesting and Focusing ..................................................................... 4Helix Energy (HLX) ......................................................................................................................................... 4SandRidge Energy (SD) .................................................................................................................................. 5Conclusion ..................................................................................................................................................... 5 Chesapeake Energy (CHK) has decided to treat its investors this festive season bytrimming unwanted assets, especially midstream assets. The company had already promised thatit would sell its midstream assets in the near future and most of us had assumed it would takeplace sometime in the first quarter of 2013. However, the company sold its midstream assets to Access Midstream Partners for a whopping$2.16 billion. The deal will help Chesapeake to pay off a large part of its debt, bringing it closeto $9.5 billion. By meeting its debt-reduction plan and by trimming assets that can easily bedivested for a profit, Chesapeake has a bright future in the coming years. Chesapeake shares arecheaper than its competitors' and it is a great time to invest in this company which has a brightfuture after a while of tough tide.What Do the Midstream Assets Entail?Midstream facilities include infrastructure and facilities that help oil companies to gather,process and sell oil and gas. Chesapeake sold 1,700 miles of pipeline and around 50 natural gasgathering systems to Access Midstream Partners, an Oklahoma based company. It will helpChesapeake to capitalize itself with the money received and pay of a significant proportion of itsdebts, which had worried investors prior to this announcement, driving Chesapeake's stockdown. Moreover, the effects of the sale will help Chesapeake to work in a more efficient way and focuson upstream activities, which help the company to become profitable in the long term.Chesapeake plans to sell much of its remaining midstream assets by early 2013, and use thatmoney to liquidate its liabilities and focus on exploration and drilling. Chesapeake’s Decision to Divest Midstream Assets Is Good for InvestorsChesapeake is one of the most affordable oil companies to invest in at the moment. The companycurrently trades at $17 and has an enterprise value of $28 billion. With a price to sales ratio of0.96 and a price to book ratio of 0.90, we can surmise that Chesapeake isn't performing as wellas its competitors or its own record in the past. However, by selling its midstream assets and capitalizing itself, Chesapeake will be able tosignificantly reduce its debts to almost $9.5 billion, which stands at $16.43 at the moment. Thequick sale of its assets before Christmas is certainly one of the gifts that the company could havegiven to its investors. Chesapeake is on the right track and is before schedule in clearing its debtsand selling off of unwanted assets which is a burden to itself. In my opinion, now is the righttime to purchase Chesapeake's shares as its value will increase significantly once it capitalizessufficiently.For Energy Companies, It Is All About Divesting and FocusingCompetitor ConocoPhillips (COP) agreed to sell its assets in Algeria, in a quest to focus ondomestic operations in the U.S. The company has now reached a deal with Indonesia’s state- controlled energy company PT Pertamina to sell its Algerian business unit for $1.75 billion.Chesapeake's balance sheet and profitability will improve with this move, as it will nowconcentrate on less risky unconventional fields in the U.S. Helix Energy (HLX) on the other hand disclosed earlier that it would like to focus on wellintervention and robotics services, which its famous for. In that direction, the company divested "