Chesapeake Energy Floats Ch. 11 Pipeline Deal With Williams
By Vince Sullivan (November 23, 2020, 6:55 PM EST) -- Bankrupt oil and gas driller Chesapeake Energy Corp. proposed a deal Sunday in Texas bankruptcy court that would provide an agreeable resolution of disputes over gas gathering agreements with The Williams Companies by turning over some of the debtor's assets to the pipeline operator and receiving beneficial amendments to the gas deals.
In its motion, Chesapeake Energy said the proposal would save the debtor more than $700 million over the remaining life of the gas-gathering agreement with Williams that originally called for minimum volume commitments from Chesapeake, with penalties attached for failing to meet those thresholds. Such agreements have been sticky...
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