Chesapeake Emerges From Bankruptcy Vowing New Era for Shale
- Shale legend reinvents itself with fraction of old workforce
- CEO Lawler says cash-burning days are over for shale explorers
Photographer: Daniel Acker/Bloomberg
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Chesapeake Energy Corp., the once-iconic energy explorer that helped ignite the American shale-gas boom, is emerging from bankruptcy protection a shadow of its former self. And in a way, that’s just fine with its boss.
“Shale has been marked by growth, and growth for all the wrong reasons,” Doug Lawler, the company’s chief executive officer, said in an interview. “What we see going forward is a new era for shale.”