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Chesapeake Energy Corporation On The Ropes?

As oil and gas prices seem to be settling in at low levels for the longer term, reality is starting to set in across the energy sector, and it's not a pretty picture in some cases.

Chesapeake Energy Logo

According to Forbes' Christopher Helman, oil and gas firm Chesapeake Energy Corporation (NYSE:CHK) is in "pretty bad shape." Helman highlights that Chesapeake shares have lost 67% of their value over the last year to trade at $8.70 today. Trapped by depressed hydrocarbon prices and ongoing commitments to pay for infrastructure, the former "shale gas king" now has a market cap of less than $6 billion and dropping.

Details on Chesapeake Energy's troubles

Chesapeake Energy provided an earnings report last week that was cold comfort for investors. After beginning the year with...