Chesapeake Energy Just Declared Bankruptcy: What Happens Next
As expected, Chesapeake Energy (NYSE: CHK) has officially filed for Chapter 11 bankruptcy. Industry watchers have speculated for years that the energy company would need to make this move to restructure what seemed like a nearly insurmountable amount of debt. Now, it will now be able to eliminate a sizable chunk of that debt as well as some burdensome contracts, after which it will reemerge with a more sustainable capital and cost structure.
Here's what investors can expect over the coming months.
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Source Fool.com
