Chesapeake Soars Most in S&P 500 on Pledge to Lower Debt LoadBy
Company sold $700 million in assets vs. planned $300 million
2016 budget of $1.3-$1.8 billion 57% less than last year
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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