Saturday, May 12, 2012

Chesapeake Takes $3B Loan to Ease Cash Crunch | Ridins

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Chesapeake Takes $3B Loan to Ease Cash Crunch | Ridins
May 12th 2012, 09:07

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CNBC's Kate Kelly and Gary Kaminsky discuss what investors are talking about at the SALT conference in Las Vegas.

Chesapeake Energy Corporation(NYSE:CHK) fell 2% as CEO McClendon has received $108M for his minority stakes in wells the company has sold. CHK had previously said entities controlled by McClendon were parties to a 2011 deal in which the company sold

(CHK) (CHK) reached a $3 billion loan agreement with a unit of Goldman Sachs Group Inc. (GS) (GS) and affiliates of Jefferies Group Inc. (JEF) (JEF) to help ease a cash shortfall that threatens to curtail its development of oil and natural-gas wells.

CNBC's Kate Kelly and Gary Kaminsky discuss what investors are talking about at the SALT conference in Las Vegas.

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