Originally published on Thu August 9, 2012 3:54 pm
A drop in natural gas prices is hurting balance sheets across the petroleum industry. The second-largest natural gas producer in the United States — Oklahoma City-based Chesapeake Energy — has been hit especially hard.
After 23 consecutive years of touting its increasing natural gas production, Chesapeake CEO Aubrey McClendon told investors during a conference call Tuesday that the company projects its gas output will drop about 7 percent in 2013.
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