(Bloomberg) — Chesapeake Energy Corp., the U.S. natural gas producer that’s struggling under the burden of a high debt-load and low prices, said its second-biggest investor distributed its stake to its limited partners.NGP Energy Capital Management LLC “made an in kind pro rata distribution of the shares” to partners of its funds, Oklahoma City-based Chesapeake said in a statement late Tuesday. The statement made no further clarification, and calls and messages to Chesapeake and NGP after normal business hours weren’t immediately returned.NGP held a 16% stake with a market value of $208.2 million. The private equity firm became a major …read more
Source:: Yahoo Finance
