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Saturday, 28 May 2016

Chesapeake's revival hampered by fire-sale prices

Pound of flesh

The U.S. energy explorer trimmed costs after ousting spendthrift boss Aubrey McClendon. That, along with strong oil output, helped it beat Q1 forecasts. But Chesapeake still piled on $1.3 bln more debt, which may necessitate selling more energy-rich land at not-so-awesome prices.

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