Chesapeake (CHK +1.5%) bounces back a bit after Plains Exploration's (PXP +1%) deal for BP Gulf...

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

Chesapeake (CHK +1.5%) bounces back a bit after Plains Exploration's (PXP +1%) deal for BP Gulf assets sparked a 4% slide in CHK shares, as the deal served as a reminder of the pressure on gas-exposed E&P firms struggling to rejig asset portfolios amid depressed prices. Since PXP started its $3.7B JV with CHK four years ago to develop shale gas, nat gas prices have plunged below $3.