Chesapeake Energy Races to Exchange Notes Before the Ball Drops

The news for Chesapeake Energy continues to be downright dismal. And no, we’re not happy to say as much. We believe Carl Icahn deserves to lose every penny (and more) that he invested in the company in return for the mass firings he instigated through his chosen tool Doug Lawler. However, there are still a lot of good people who work at Chessy–and a lot of landowners who depend on Chesapeake drilling on and under their property (that is, when they pay fair royalties). It is in no one’s best interests to see Chesapeake file for bankruptcy. Yet increasingly, that’s the scenario being whispered (see Chesapeake Energy Faces Bankruptcy if Noteholders Don’t Cooperate). Chesapeake faces a deadline tomorrow with noteholders. If they don’t successfully seal the deal and get a majority of those noteholders to exchange their existing notes for new notes–let’s just say the alternative is not pretty…

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