HOUSTON (Bloomberg) -- Chesapeake Energy Corp. shares jumped the most in almost two years, putting it on top of the S&P 500, after the shale explorer pledged to continue its push to cut spending and sell more assets in the year ahead.
Chesapeake raised $1.3 billion last year from asset sales and has fired thousands of employees to cope with a burdened balance sheet. Still, the company’s debt load remained little changed in 2017 at about $10 billion, according to its fourth-quarter earnings statement.
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Headline crude prices for the week beginning 10 February 2020 – Brent: US$53/b; WTI: US$49/b
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