XplosiveStocks.com: Chesapeake Energy Corporation (NYSE:CHK), Xplosive Stock on the Move!

Friday, October 17, 2008; Posted: 12:50 PM

Chesapeake Energy Corporation enters new revolving bank credit facility

-- Chesapeake Energy Corporation (NYSE:CHK), a producer of natural gas in the US, declared on 16 October that it has completed a new secured revolving bank credit facility for an affiliate of its unrestricted subsidiary, Chesapeake Midstream Partners LP.

The facility, which matures in October 2013, has initial availability of USD460m and may be increased up to USD750m at Chesapeake Midstream Partners LP's discretion, subject to additional bank participation.

The company proposes to use the facility to partially fund capital expenditures associated with building additional natural gas gathering and other systems associated with active drilling programme in various plays.

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