Chesapeake Energy Corp. (NYSE: CHK) has taken the first steps to spin off its oilfield services unit.
The second largest U.S. natural gas producer, behind only behemoth Exxon Mobil Corp. (NYSE: XOM), reported Monday it has filed paperwork with the U.S. Securities and Exchange Commission for the possible separation. The company also confirmed Morgan Stanley (NYSE: MS) has been retained to evaluate strategic options for the business, Chesapeake Oilfield Operating LLC (COS).
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