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WRD - Chesapeake Energy: Going Concern Worries Out Of Control
WildHorse Resource Development Corporation
As was previously noted, Chesapeake Energy (CHK) announced a larger than expected loss along with a "going concern" line in the 10-Q. Many commenters further pushed the panic button by noting that the long-term debt (without the current portion) climbed from $7.3 billion to $9.1 billion in the latest 10-Q. How much more proof do you need that the company is going broke? There was of course the usual comment about the larger than expected losses to demonstrate that costs are clearly out of control when management cannot meet their own forecasts.