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Chesapeake Energy Says it Has No Plans to File Bankruptcy

Chesapeake Energy (CHK), which is listed on TheStreet’s Real Money ‘Stressed Out’ Index, saw its shares drop dramatically Monday after several trading halts, as investors worried about a possible bankruptcy filing. But the company said it has no plans to filing for bankruptcy, and that it was seeking options to maximize shareholder value. Real Money’s Carleton English said the company has a $500 million senior note coming due in March, and pointed out that notes have plunged along with its stock price. At midday, shares of Chesapeake had lost a third of their value. Chesapeake is one of several energy companies under pressure as oil prices remain low.

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