Is Cabot O&G Sniffing Around Chesapeake Energy’s Shale Assets?
A warning right up front: This post is speculation and rumor. As you know if you’ve read MDN (or any other media source covering oil and gas in the past two weeks), on June 28 Chesapeake Energy filed for Chapter 11 bankruptcy (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership). With something like $11 billion in outstanding debt and a market value of just over $100 million (a tiny fraction of the debt), it’s obvious debtors will take over the company. What happens then? We spotted a rumor that Cabot Oil & Gas may be interested in a purchase.
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