uploads///debt management

Chesapeake Energy Has Taken These Steps to Decrease Its Debt

Keisha Bandz - Author

Nov. 20 2020, Updated 3:00 p.m. ET

Chesapeake’s debt management efforts

Chesapeake Energy (CHK) has been intently focusing on reducing its debt load. For example, over the past three quarters, it has reduced its 2017 maturing and puttable debt commitments by ~$830 million, which is a ~38% reduction. It achieved this through a combination of debt exchanges, open market repurchases, and equity-for-debt exchanges.

Asset sales are another key strategy CHK is deploying to reduce its debt. Upstream companies such as Hess (HES) and Anadarko Petroleum (APC) have also made asset sales one of their key strategies to bolster financial strength while energy prices (USO) (UNG) remain volatile.

Article continues below advertisement

Latest United States Natural Gas ETF News and Updates

    © Copyright 2022 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.