Chesapeake Surges After Abandoning Birthplace of Shale Boom

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  • Gas driller quitting field to escape $1.9 billion in costs
  • Company receiving zero proceeds for handing over assets

Chesapeake Energy Exits Barnett Shale

Chesapeake Energy Corp. agreed to give away its Barnett Shale holdings to a private-equity backed operator, exiting the birthplace of the shale revolution to escape almost $2 billion in onerous pipeline contracts.

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