Seventy Seven Energy Sells Trucking Subsidiary for Undisclosed Sum

MDN recently told you Seventy Seven Energy–an oilfield services company with major operations in the northeast, the old Chesapeake Oilfield Operating division of Chesapeake–continues to operate in the red, which it has done since it became its own company in July 2014 (see Seventy Seven Energy 1Q15: Red Ink Continues to Flow Heavy). We also told you the company recently secured a $100 million loan (see Seventy Seven Energy Secures $100M Loan to Keep on Drillin’). Seventy Seven announced yesterday they are selling their trucking company subsidiary, Hodges Trucking (rig hauling company), for an undisclosed amount of money to Aveda Transportation and Energy Services Inc…

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