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Chesapeake takes $4 bln writedown on low oil price

2015-08-06 04:11:46| Oil & Gas - Topix.net

Chesapeake Energy Corp. posted a deep loss in the second quarter as the U.S. shale driller took a $4.02 billion write-down on some properties following tumbling energy prices. "While we strive to remain flexible in the face of lower commodity prices, we continue to focus on driving our costs lower," said Doug Lawler, Chesapeake's chief executive.

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