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| Economy |
| U.S. Shale Pioneer Chesapeake Energy Files for Bankruptcy |
| 2020-06-30 |
| More fallout from the Saudi petroleum plays and Covid-19 caused lack of demand. [gCaptain] Chesapeake Energy Corp., the archetype for America’s extraordinary shale-gas fortunes, filed for bankruptcy, becoming one of the biggest victims of a spectacular collapse in energy demand from the virus-induced global lock-down. The Oklahoma City-based company filed for Chapter 11 protection from creditors in U.S. Bankruptcy Court in the Southern District of Texas on Sunday, listing assets and liabilities in the range of $10 billion and $50 billion, and more than 100,000 creditors. |
| Posted by:Alaska Paul |