Is this the last shoe to drop?


Report: Chesapeake has $1.4 billion in unreported liabilities
Wichita Business Journal
Date: Friday, May 11, 2012, 8:04am CDT


In need of cash to cover operating expenses and a move from natural gas into the more lucrative oil business, Chesapeake Energy Corp. has been making deals that leave the company with about $1.4 billion in previously undisclosed liabilities, according to a Wall Street Journal report.

In need of cash to cover operating expenses and a move from natural gas into the more lucrative oil business, Chesapeake Energy Corp. has been making deals that leave the company with about $1.4 billion in previously undisclosed liabilities, according to a Wall Street Journal report.
The report says Chesapeake has been making commitments to Wall Street banks that it will deliver specific amounts of oil and natural gas each month through 2022, in exchange for cash.