12 May '12, 2pm
Drumbeat: May 12, 2012
Drumbeat: May 12, 2012 Posted by Leanan on May 12, 2012 - 11:44am WSJ: 'Undisclosed' Chesapeake debt looms A US report contends that the embattled Chesapeake Energy has “previously unreported liabilities” summing to $1.4 billion resulting from a programme that allowed it to exchange future oil and gas production for cash up front. The Wall Street Journal analysed 10 of the company’s Volumetric Production Payment agreements and projected that the costs associated with the arrangements was far higher than $600 million over 10 years previously estimated. Chesapeake wins breathing space with $3 bln loan (Reuters) - Chesapeake Energy Corp said it had received a $3 billion loan from Goldman Sachs and Jeffries Group that will give it breathing room to sell assets and close a funding gap this year. The company, which has been embroiled in a corporate governance crisis that prompte...