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CHKDP - Chesapeake Energy: Maybe A Miracle On The Way
Chesapeake Energy
Chesapeake Energy (CHK) has a rather perilous outlook. The combination of current strip prices, a lack of free cash flow, and likely future production declines have combined to create a dangerous cocktail. The bloated balance sheet means that he company is unlikely to survive without drastic action. The recent debt exchange, while a positive, is not enough to allow the company to emerge healthily on the other side of upcoming 2021 refinancing. The trading activity in those new bonds shows that. Asset sales remain the last hope, but there has been no news