Shale Giant Chesapeake Emerges From Bankruptcy

Chesapeake Energy has emerged from bankruptcy proceedings after a judge approved its Chapter 11 restructuring plan, Reuters has reported, noting the company will be worth $5.13 billion now, thanks to the rebound in oil prices. Chesapeake filed for bankruptcy protection last June, with a debt load of $9 billion amid a slump in oil prices and oil demand. It said at the time it had already secured close to $1 billion in debtor-in-possession financing that a court first had to approve before the company can use it. Chesapeake also said some of its…