Chesapeake Energy (CHK) plans to spin off its oilfield service business next year in a public...

|About: Chesapeake Energy Corporation (CHK)|By:, SA News Editor

Chesapeake Energy (CHK) plans to spin off its oilfield service business next year in a public stock offering to establish the value of the unit to investors and pump up the share price of the parent, CEO Aubrey McClendon says. CHK will retain control of the service company’s board and retain as much stock as it can while allowing a liquid market for the public shares, he says.