Shale Giant On The Brink Of Bankruptcy Receives Federal Lifeline

The federal government has allowed bankrupt shale major Chesapeake Energy to stop drilling at more than 100 leases on federal lands without losing ownership of the assets, Reuters has reported, citing data that shows the approvals have been granted since the start of the coronavirus crisis. The company, according to the data, first applied for permission to suspend drilling across these leases in late April. By mid-May, the Bureau of Land Management had granted it 108 approvals, Reuters reports. The BLM has been granting permission to oil companies…