What a difference a year makes. A little over a year ago Chesapeake Energy (NYSE:CHK) CFO Nick Dell’Osso told investors that “Chesapeake has never been stronger financially.” That strength was in large part due to the sale of a huge swath of the company’s acreage in the Marcellus and Utica shale plays to Southwestern Energy (NYSE:SWN) for roughly $5 billion in cash.
A year later, with the company having burned through more than half of that cash due to ill-timed debt buybacks and ill-advised growth, it finds itself in a considerably weakened financial position. Making matters worse is the fact that natural gas prices recently touched a 14-year low, which has cut off a key fuel that Chesapeake Energy needed to m…
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