Reuters was first to report that Chesapeake Energy Corp, the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices. The Oklahoma City-based company, which was co-founded by late wildcatter Aubrey McClendon, was struggling with its debt pile of roughly $9 billion even before an oil price war between Saudi Arabia and Russia and the fallout from the coronavirus pandemic contributed to driving its shares down more than 50% in the last three weeks.
Reuters first to report Chesapeake Energy taps restructuring advisers
16 March 2020, 12:00 am 1 minute
Type: Reuters Best
Sectors: Commodities & Energy
Win Types: Exclusivity
Story Types: Exclusive / Scoop