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Business & Finance

Reuters exclusively reports Chesapeake Energy preparing to file for bankruptcy as soon as this week; market reacts

Shares of Chesapeake Energy Corp dropped as much as 23% after Reuters was first to report the company was preparing to file for bankruptcy as soon as this week, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak. In May, the company warned it might seek bankruptcy protection and added that there was substantial doubt about its ability to continue as a going concern. Reuters in April reported Chesapeake was preparing a potential bankruptcy filing.

Market Impact

Shares of Chesapeake Energy Corp dropped as much as 23% after the report was published.



Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Americas
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
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