Chesapeake Soars Most in S&P 500 on Pledge to Lower Debt Load

Updated on
  • Company sold $700 million in assets vs. planned $300 million
  • 2016 budget of $1.3-$1.8 billion 57% less than last year

Chesapeake Surges on Pledge to Lower Debt Load

Chesapeake Energy Corp. surged 23 percent after saying it will pay off the remainder of a half-billion dollar debt that’s coming due in three weeks with proceeds from asset sales that were twice as large as the company expected.

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