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Chesapeake Energy board approves spinoff

2014-06-09 20:15:15| Oil & Gas - Topix.net

The Oklahoma City-based oil and natural gas producer said Monday that the new company will be called Seventy Seven Energy Inc. To separate the companies, Chesapeake shareholders will receive one share of Seventy Seven Energy for every 14 shares of Chesapeake stock they own as of June 19. No fractional shares of Seventy Seven Energy will be issued.

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