Chesapeake Energy's joint ventures and asset sales could generate up to $12 billion in cash proceeds this year, according to the company. Chesapeake's acreage in the Permian Basin in Texas and New Mexico could be included in the asset sales. The announcement, however, will have no effect on the company's activities in the Barnett Shale in Texas, said Julie Wilson, Chesapeake's vice president for urban development.

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