Chesapeake Pins Hopes On Fire Sale To Fix $14B Shortfall

Law360, New York (June 8, 2012, 7:56 PM EDT) -- Facing a $14 billion cash flow gap, a shareholder mutiny and more bad news on energy prices, Chesapeake Energy Corp. essentially hung a sign out front ahead of its annual shareholder meeting on Friday: Everything must go.

The beleaguered company shed $4 billion in gas pipeline and processing assets, closing about a quarter of a funding shortfall caused by years of debt-fueled growth. The sale gives Chesapeake some breathing room as it looks to raise at least another $12 billion by 2013 to stay ahead of...
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