Shares of CHK have recovered since making a press release, announcing they have no interest in bankruptcy.
Co stated that Kirkland & Ellis LLP has served as one of Chesapeake’s counsel since 2010 and continues to advise the company as it seeks to further strengthen its balance sheet following its recent debt exchange. Chesapeake currently has no plans to pursue bankruptcy and is aggressively seeking to maximize value for all shareholders.
As you were, lads.
Oil CEOs calling ex bank and a few current bank CEO’s, “how did you handle this in ’08?”
Could this be the Bear Sterns of the oil patch? Would exposed banks be in for a boon with both bailout funds and oil assets on the books which could be worth a fortune when the price rebounds?