Chesapeake is expected to file for chapter 11 bankruptcy this week as early as Thursday. Filing might be delayed to early next week depending on negotiations with creditors. The result will be a debtor in possession which means the creditors will control and run the company.
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“Dougie fresh” will be out once that is finished...along with the entire Anadarco posse!
Long overdue trying to unload all that legacy debt. Time to just “flush the toilet”