Chesapeake Energy Corporation (“Chesapeake”) (NYSE: CHK) announced today
it has completed the spin-off of its oilfield services business,
previously conducted through Chesapeake Oilfield Operating, L.L.C., into
a stand-alone, publicly traded company called Seventy Seven Energy Inc.
(“SSE”) (NYSE: SSE).
Following the close of business on June 30, 2014, Chesapeake distributed
to its shareholders one share of common stock of SSE for every 14 shares
of Chesapeake common stock outstanding as of 5:00 pm EDT on June 19,
2014, the record date for the distribution.
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