Chesapeake Value Climbs Above Estimates

摘要

Chesapeake Energy’s value has soared since its June bankruptcy filing, the US judge overseeing the natural gas producer’s restructuring trial indicated, and is worth $5.13 billion, far above the company’s estimate. Chesapeake sought protection from creditors, weighed down by $11.8 billion in debt, after a decade of aggressive borrowing to buy oil and gas properties. Its losses ballooned last year as the Covid-19 pandemic cut energy prices, leaving it unable to pay interest on its debt (OD Jun.30’20).