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Drumbeat: May 12, 2012

WSJ: 'Undisclosed' Chesapeake debt looms A US report contends that the embattled Chesapeake Energy has “previously unreported liabilities” summing to $1.4 billion resulting from a programme that allowed it to exchange future oil and gas production for cash up front. The Wall Street Journal analysed 10 of the company’s Volumetric Production Payment agreements and projected that the costs associated with the arrangements was far higher than $600 million over 10 years previously estimated.
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