Equities

Reuters exclusively reports Chesapeake Energy preparing to file for bankruptcy as soon as this week; market reacts

Reuters exclusively reports Chesapeake Energy preparing to file for bankruptcy as soon as this week; market reacts

Reuters was first to report that Chesapeake Energy was preparing to file for bankruptcy as soon as this week, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak. In May, the company warned it might seek bankruptcy protection and added that there was substantial doubt about its ability to continue as a going concern. Reuters in April reported Chesapeake was preparing a potential bankruptcy filing.