Chesapeake Energy Turns Corner After Wild Ride in 2016

wild ride

Last year was a wild ride for Chesapeake Energy, with respect to the company’s finances. At one point early in the year, betting money said Chessy would have to declare bankruptcy (see Chesapeake Energy: We’re Not Filing for Bankruptcy…Yet). However, as the year wore on, Chesapeake CEO Doug “the ax” Lawler not only continued selling assets here and there as he could, he also figured out how to refinance major portions of the company’s debt–pushing out repayment into the far future, giving the company breathing room. Although Chesapeake doesn’t release it’s fourth quarter and full year 2016 numbers until later this week, one analyst predicts the company is now out of the woods and once again on firm footing. Unfortunately (for the northeast) Chesapeake’s new direction involves less drilling in the Marcellus/Utica and more drilling elsewhere…

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