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CNN Money analyzes why one oil company dumped natural gas.
CNN Money analyzes why one oil company dumped natural gas.
The editorial is quoted as saying:
The latest independent to fall prey to this glitch in natural gas economics is Chesapeake Energy (CHK, Fortune 500), which has long been one of the most aggressive natural gas players. This week, the company announced that it would sell about $5 billion worth of its natural gas assets. It was a good idea, gauging the reaction in the market. Shares rose almost 6% following the announcement.
