Shale pioneer Chesapeake Energy files for bankruptcy in Houston

Oklahoma City-based Chesapeake Energy Inc. (NYSE: CHK) and 40 affiliates filed for Chapter 11 bankruptcy protection June 28.

The filing, in the U.S. Bankruptcy Court for the Southern District of Texas Houston Division, caps a long period of decline for the driller that saw it rack up billions of dollars in debt. It reported total debt of nearly $11.8 billion and assets of nearly $16.2 billion in the filing.

The long-expected filing came with a restructuring agreement with its lenders that included…