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Shale gas pioneer Chesapeake Energy worth US$5.13 billion on bankruptcy exit -US judge

Chesapeake Energy Corp's value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer's trial indicated, and is worth US$5.13 billion, far above the shale gas pioneer's estimate.

FILE PHOTO: A Chesapeake Energy natural gas well pad rests on the hill in Litchfield Township
FILE PHOTO: A Chesapeake Energy natural gas well pad rests on the hill in Litchfield Township, Pennsylvania, January 9, 2013. REUTERS/Brett Carlsen/File Photo

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HOUSTON: Chesapeake Energy Corp's value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer's trial indicated, and is worth US$5.13 billion, far above the shale gas pioneer's estimate.

Creditors have offered sharply different estimates of the firm's enterprise value during its trial in U.S. bankruptcy court in Houston. Judge David Jones's figure was US$1 billion higher than the mid-point of the range recently offered by the Oklahoma company.

(Reporting by Gary McWilliams)

Source: Reuters