Shale pioneer Chesapeake Energy files for bankruptcy

Chesapeake Energy, a pioneer of the American shale revolution, declared bankruptcy on Sunday, the biggest US producer to have succumbed in an oil-price crash that is ravaging the country’s energy sector. After skipping interest payments this month, and with bonds maturing this year that were last trading for only about 5 cents on the dollar, a Chapter 11 filing was expected sooner rather than later.

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