US shale producer Chesapeake Energy has agreed to sell the bulk of its position at the Eagle Ford formation to independent player WildFire Energy for $1.43 billion.

The agreement includes assets in the Brazos Valley region in the Eagle Ford shale play in Texas.

“Today marks an important step on our path to exiting the Eagle Ford as we focus our capital on the premium, rock, returns and runway of our Marcellus and Haynesville positions,” Chesapeake chief executive Nick Dell’Osso said.