Chesapeake Energy, the poster child of the U.S. shale revolution, filed for bankruptcy protection on Sunday, rocked by a drop in oil and gas prices amid the pandemic. bloomberg news One of the longest-running dramas in corporate oil and gas history finally came to a climax on Sunday when management for Chesapeake Energy announced it …
Most relevant news about CHESAPEAKE ENERGY CORPORAT: 05/21: CHESAPEAKE ENERGY: Thinking about buying stock in CleanSpark, IMV Inc, Canopy G.. The bankruptcy of Chesapeake, the pioneer of using fracking to mine shale gas and oil, could mark a new, straitened era for the oil industry, according to analysts. Chesapeake on Sunday became the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debt and the impact of the coronavirus outbreak on energy markets. On Monday morning, those stocks were flying: Chesapeake Energy (ticker: CHK) was up 82% gain, Callon Petroleum (CPE), up 54%, and Extraction Oil & Gas (XOG), up 152%. Other wildcatters followed in Chesapeake's path, racking up huge debts to find oil and gas in fields spanning New Mexico, Texas, the Dakotas and Pennsylvania. The company on Tuesday also posted a quarterly loss of $61 million, or 6 cents a share, compared with a loss of $146 million, or 19 cents, for the same period a year earlier. Chesapeake was forced to write down the value of oil and gas assets by roughly $8.5 billion this year. Chesapeake's move to oil came relatively late compared with many of its peers, which were quicker to anticipate that a glut of natural gas in the U.S. would make crude more attractive. The price of oil has rallied this week, leading to bullish moves on energy stocks. ... Shale Oil Company Chesapeake Energy Files …
Fracking pioneer Chesapeake Energy Corporation on Sunday became the largest oil-and-gas company to file for bankruptcy protection during the coronavirus pandemic. View the latest Chesapeake Energy Corp. (CHK) stock price, news, historical charts, analyst ratings and financial information from WSJ.
Chesapeake's bonds continue to sit at lows at around 5% of par, indicating th Get the latest Chesapeake Energy Corporation (CHK) stock news and headlines to help you in your trading and investing decisions.