Chesapeake Energy Corporation's 50 acre campus is seen in Oklahoma City, Oklahoma. - Reuters filepic
NEW YORK: Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets.
The filing marks an end of an era for the Oklahoma City-based shale pioneer, and comes after months of negotiations with creditors to lay the groundwork for the restructuring. Reuters first reported in March the company had retained debt advisers.
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