Chesapeake Energy, fracking pioneer, files for bankruptcy owing $9bn
by Martin Farrer and agencies from Environment | The Guardian on (#554NT)
The Oklahoma City-based company helped turn the US into a global energy powerhouse but ran up huge debts in the process
Chesapeake Energy, the shale gas drilling pioneer that helped to turn the United States into a global energy powerhouse, has filed for bankruptcy protection.
The Oklahoma City-based company said on Sunday that it had been forced to enter chapter 11 protection because its debts of $9bn were unmanageable.
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