Chesapeake Energy's Stock Surges as Management Buys Time
Shares of oil and gas producer Chesapeake Energy (NYSE: CHK) are up 14.8% as of 11:30 a.m. EST today. While today's oil price surge is likely playing a large part in today's climb, Chesapeake's pronounced move comes on the heels of several debt deal announcements.
We could simply chalk up today's double-digit surge to the fact that a barrel of West Texas Intermediate is up 4.2% to $58.47 at the time of this writing, but Chesapeake's move is more pronounced than those of most other oil and gas producers that are focused wholly on U.S. shale drilling and fracking.
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Source Fool.com
