Fracking pioneer Chesapeake Energy, which helped lead a rebirth of U.S. fossil-fuel output, filed for bankruptcy
Chesapeake Energy Corp. said Sunday that it had filed for bankruptcy protection as an oil- and gas-price rout stoked by the coronavirus pandemic proved to be the final blow for a shale-drilling pioneer long hamstrung by debt.
Co-founded in 1989 by the late wildcatter Aubrey McClendon, Chesapeake was early to recognize that horizontal drilling and hydraulic fracturing could unlock vast troves of natural gas, a trend that led to a rebirth of American fossil-fuel output and eventually made the U.S. the top oil producer in the...
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