Chesapeake regains half of losses; says has no plans to seek bankruptcy
Chesapeake Energy , the second-largest natural gas producer in the United States, plunged as much as 50 percent on Monday after multiple reports that it had hired restructuring attorneys.



Chesapeake shares were down $1.01 at $2.05, having been halted at least eight times in morning trading. Despite these reports, the energy company said in a statement that it has no plans to pursue bankruptcy, and Chesapeake is aggressively seeking to maximize value for all shareholders.

Chesapeake, which has more than $10 billion in debt, has been hit by a steep fall in both oil and gas prices. Reuters reported that the company's bonds maturing next month plunged 20 points, to a level of 75 cents on the dollar, on the news.

Shares in Williams Cos fell as much as 34 percent, while Energy Transfer Equity fell 26 percent. ETE is in the process of acquiring Williams, which counts Chesapeake as a major partner.

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