Energy News

To match Special Report CHESAPEAKE-MCCLENDON/LOANS

Chesapeake, after shares drop by half, says no to bankruptcy

Chesapeake Energy , the No. 2 U.S. natural gas producer, said on Monday it had no plans to file for bankruptcy, after sources told Reuters the company had asked its longtime counsel to look at restructuring options. Chesapeake's shares were halted after plunging more than 50 percent but later pared some losses, as it said advisers Kirkland & Ellis had been providing counsel since 2010 and will co…

 
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