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Jun 01, 2012
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Chesapeake Energy may struggle to make ends meet
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Although Chesapeake Energy intended to pare debt, plug a funding gap and move from gas fields to oil basins this year, a Jeffries analyst determined that the company needs to raise $7 billion this year through asset sales and another $2 billion next year to "comply with credit-line covenants" just to plug its funding gap alone, The Wall Street Journal reports (See the Jan 26, 2012, blog – "Chesapeake's multi-faceted debt-reduction plan concerns some analysts"). Chesapeake's plan to sell its spin-off oilfield services subsidiary faces many hurdles, which may force the company to sell some of its "prized assets" in undeveloped oil-shale fields in Ohio and south Texas, the article said. For more, read the full story here.
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Posted by
M. Warnock
in
United States
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