Shale Driller Posts Rare Negative Revenue After Hedging Losses leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.
Oklahoma City-based Chesapeake Energy Corp. is going back to the future, agreeing Wednesday to pay $2.2 billion for one of the Haynesville Shale’s biggest
Chesapeake Exits Bankruptcy, Pledges to End Routine Flaring in Completions ‘Immediately’
Oklahoma City-based Chesapeake Energy Corp. on Tuesday put the Chapter 11 process in the rear-view mirror and said it wants to take up the gauntlet to develop its substantial Mother Lode of Lower 48 natural gas.
At one time the largest natural gas producer and biggest leaseholder in the onshore, Chesapeake succumbed to bankruptcy last June, and as of Tuesday had erased an estimated $7.8 billion in debt.
The restructuring marks a “new day,” CEO Doug Lawler said. “We have fundamentally reset our business, and with an improved capital and cost structure, disciplined approach to capital reinvestment, diverse asset base and talented employees, we are poised to deliver sustainable free cash flow for years to come.”