| Shale? OPEC is competing with something far bigger and harder to tame: U.S. capital markets.The morning after the night before in Algiers, Chesapeake Energy announced a private placement of $850 million in 10-year convertible notes.
Chesapeake, which pioneered the shale-gas land-grab strategy before 2008, is better known these days for its creative efforts to chip away at its debts. The placement's timing may be an accident, of course. But I'm going to go out on a limb and suggest maybe not.Why?............................................Full Article: Source
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