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U.S. fracker Ascent Resources Marcellus targets quick Chapter 11 exit [Reuters (UK)]

CHESAPEAKE ENERGY (CHK)  More Company Research Source: Reuters
Last chesapeake energy earnings: 5/2 07:00 am Check Earnings Report
US:NYSE Investor Relations: chk.com/investors
PDF U.S. fracker Ascent Resources Marcellus targets quick Chapter 11 exit | Reuters 3 Min Read (Reuters) - U.S. shale driller Ascent Resources Marcellus Holdings LLC, which filed for Chapter 11 protection on Tuesday, expects to exit bankruptcy by March 31 under the new ownership of its lenders, lawyers for the company and its lenders said in court on Thursday. The bankruptcy petition by Ascent, one of the companies founded by late U.S. oilman Aubrey McClendon after he left Chesapeake Energy Corp, followed two years of negotiations with lenders to work out a reorganization plan, the lawyers said. Dozens of North American oil and gas producers began filing for Chapter 11 protection in 2015 after a plunge in commodity prices. Even though prices have since recovered, Oklahoma City, Oklahoma-based Ascent said in court papers that its revenue and production volume still failed to cover expenses and contract commitments. Under Ascent Resources Marcellus’ consensual reorganization plan, first-lie [Read more]

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