One of the pioneers of the US oil shale industry declared bankruptcy :: Business :: RBC

Chesapeake Energy shale oil producer owes $ 7 billion. Bloomberg said earlier that control of the company could go to one of the lenders.

Chesapeake Energy, considered one of the pioneers in the US oil shale industry, has filed for bankruptcy, according to the corporation’s website.

“The company has voluntarily filed for Chapter 11 defense with the United States Southern Texas Bankruptcy Court to facilitate a comprehensive restructuring of the balance sheet,” the statement said.

The company’s debt amounted to about $ 7 billion. Under an agreement with creditors, Chesapeake Energy will receive a loan of $ 925 million. In addition, lenders and holders of secured bills will allocate $ 600 million to it.

The flagship of the US oil shale industry pledged almost all assets on a loan

According to the corporation’s report, in the first quarter of 2020, Chesapeake Energy’s net loss was $ 8.3 billion, and its liquidity was $ 82 million.

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