Chesapeake Energy Corp. filed for bankruptcy, becoming one of the biggest victims of a spectacular collapse in energy demand due to COVID-19. The Oklahoma City-based company filed for Chapter 11 protection from creditors in U.S. Bankruptcy Court in the Southern District of Texas on Sunday, listing assets and liabilities in the range of $10 billion and $50 billion, and more than 100,000 creditors. The company also entered into an agreement to eliminate about $7 billion in debt and secure $925 million in debtor-in-possession financing.
