The unprofitable record holder Chesapeake (which is in the stage of bankruptcy) turns out to be worth something, and even growing!
The value of Chesapeake Energy Corp. has skyrocketed since filing for bankruptcy in June, said a US judge overseeing the natural gas producer, and is worth $ 5.13 billion, well above the estimate of the shale gas pioneer.
Lenders offered drastically different valuations of the business during the US bankruptcy court proceedings in Houston. Judge David Jones’ figure was $ 1 billion above the average of the range recently proposed by the Oklahoma company.
If it’s good, then bet it well.