Chesapeake (CHK -8.5%) hits lows of the day after admitting its target to reduce debt to $9.5B...

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

Chesapeake (CHK -8.5%) hits lows of the day after admitting its target to reduce debt to $9.5B or less by year's end may be pushed into 2013 (conference call). Argus oil analyst Phil Weiss says CHK has promised a lot but has yet to deliver much: "They still say they are going to lower debt and they still need to complete asset sales. They just admitted they are having trouble."