Chesapeake Pushed Into Bankruptcy by Plunging Energy Prices

    • Dennis Zuraw
      Participant

        Chesapeake Energy Corp., the archetype for America’s extraordinary shale-gas fortunes, filed for bankruptcy, becoming one of the biggest victims of a spectacular collapse in energy demand from the virus-induced global lockdown.

        Chesapeake listed assets and liabilities in the range of $10 billion and $50 billion, and more than 100,000 creditors.

        The company also entered into an agreement to eliminate about $7 billion in debt and secure $925 million in debtor-in-possession financing.

        I want to hear people’s opinions on the current state of energy, it’s prices, and what this could mean to Americans that are interested in mining whether it be in the cloud or IRL

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