American Chesapeake Energy Corporation files for bankruptcy

The hydrocarbon exploration giant Chesapeake Energy Corporation is going to go out of business.
The company has announced that bankruptcy is necessary because of its $8.3 billion debts.
The energy company, who counts about 1,900 employees, has started a plan to cut $7 billion of its
debt with its lenders and has promised to continue to operate as usual during all the bankruptcy
procedures.
The fracking pioneer has turned America into a worldwide energy powerhouse during the boom,
using “particular” exploration methods that have gone under magnifying glass because of its
environmental impact.