Chesapeake launches spin-off, divestments

CHESAPEAKE Energy aims to eliminate about $US1.1 billion ($A1.18 billion) of debt by spinning off its oilfield services business as Seven Seventy Energy by the end of June.

Chesapeake launches spin-off, divestments Chesapeake launches spin-off, divestments Chesapeake launches spin-off, divestments Chesapeake launches spin-off, divestments Chesapeake launches spin-off, divestments

Chesapeake said on Friday that it would also receive an approximate $400 million dividend from the spin-off, which would help pay off intercompany debt from the oil field services business.

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