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.