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HOUSTON U.S. shale producer ChesapeakeEnergy Corp on Tuesday exited Chapter 11 bankruptcy with business plan that nods to its founders’ emphasis on natural gas after a recent push into crude oil.
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Who is Chesapeake Energy?
Chesapeake, founded in 1989 with an initial investment of $50,000, and has long been known as a major natural gas producer. For the US shale sector, there has been no bigger disruptor than Chesapeake, Alex Beeker, principal analyst at Wood Mackenzie, said in a statement Sunday.
When will Chesapeake Energy come out of bankruptcy?
Chesapeake Energy will emerge from bankruptcy by the end of the 2021 first quarter. Most of the $7 billion debt extinguished during the restructuring process will be swapped for shares. Debtholders, not stockholders, will drive the company鈥檚 future moving forward.
What certifications does Chesapeake Energy Corporation have?
We are committed to safely and responsibly producing oil and natural gas. Press Releases Chesapeake Energy Corporation Achieves Grade A MiQ and EO100 鈩?Certification for its Legacy Haynesville Shale Operations Chesapeake Energy Corporation Launches New ESG Site; Enhances Reporting Transparency and Outlines Path for Achieving Climate Goals
What happened to Chesapeake Energy鈥檚 Oklahoma City campus?
Parts of its spacious, verdant campus in northwest Oklahoma City are now vacant and up for redevelopment ideas. But company leaders say they retained some key assets after the seven-month bankruptcy process in which Chesapeake shed billions of dollars of its debt.
