Chesapeake Energy Corp , the oil and gas exploration and production company that...
), the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices, people familiar with the matter said on Monday.
Chesapeake has enlisted restructuring lawyers at Kirkland & Ellis LLP and investment bankers at Rothschild & Co who specialize in reworking debt, the four sources said. The company is studying its options and no debt restructuring move is imminent, the sources added, asking not to be identified because the deliberations are confidential.
Nevertheless, those pronouncements preceded significant worldwide market turmoil and economic uncertainty stemming from the coronavirus crisis, as well as a recent plunge in oil prices. The developments have pressured oil and gas producers across the board, and prompted Chesapeake to take yet another hard look at its financial books.
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