New York (CNN Business) Fracking pioneer Chesapeake Energy Corporation on Sunday became the largest oil-and-gas company to file for bankruptcy protection during the coronavirus pandemic. Bankruptcy rumors have swirled around Chesapeake for years as low oil and gas prices made it difficult for the company to repay its pile of debt. Chesapeake is just the latest oil company to file for bankruptcy protection. Whiting Petroleum WLL Former shale starsought Chapter 11 in April, marking the first major oil producer to seek bankruptcy since the pandemic struck. Analysts have warned that dozens more US oil and gas companies may succumb as well.

Source: CNN June 28, 2020 23:03 UTC