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Chesapeake secures $2 billion loan

Chesapeake Energy Corp. has secured a $2 billion loan to repay debt.
BY JAY F. MARKS Business Writer jmarks@opubco.com Modified: November 1, 2012 at 9:48 am •  Published: November 1, 2012
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CEO Aubrey K. McClendon said he is pleased with the progress Chesapeake has been making.

“We are proud of the production growth we have achieved, particularly the growth of our oil and natural gas liquids production over this period,” McClendon said. “We also look forward to the completion of our 2012-2013 asset sales and more focused drilling activity that will lead over time to a balance between drilling capital expenditures and operating cash flow as we transition into our asset harvest strategy from our previous strategy of new play identification and capture.”