Chesapeake Energy, once a power in natural gas, files for bankruptcy

Chesapeake Energy, which more than any other company capitalized on the fracking revolution that turned the United States into a leading shale gas producer, filed for bankruptcy protection Sunday. Staggering under $9 billion in debt and the historically low price for gas, driven down even further by the novel coronavirus pandemic, Chesapeake said it will continue to operate and expects to reorganize and emerge from protection under Chapter 11 of the bankruptcy code. (Wash Post)

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