Major Chevron announces $10B plus write down of shale gas assets and expects lower commodity prices.
The management team at Chesapeake Energy Corp. made a series of transaction announcements on December 4th.
These moves should help the company to reduce debt some, though interest expense will likely remain unchanged.
This debt reduction strategy is a nice step, but by itself it's too little to save the firm.
Management must announce a major asset sale or see something else big happen for the business to remain alive.
2 replies (most recent on top)
Are you going to credit the author for this article that was lifted from seeking alpha?
You could have worked anywhere, but no, you chose Chesapeake. Or Apache, or Anadarko, or Oxy, or soon to be Chevron. Anyplace other than the oil/gas business.