It is foolish to speculate that Chesapeake Energy (CHK). A year ago, the speculation would have made more sense (even though in hindsight that play would be wrong, too). Today, with the stock trading at $1.59, the market fully anticipates bankruptcy or restructuring. Above: NBA Finals at Chesapeake Arena It is also bearish that CHK’s stock did not participate alongside the 12% rally in oil prices on Friday, February 12 alone. Debt is unmanageable for CHK. Even if capital expenditures are cut, the company cannot service nearly $4 billion in debt. $CHK, Chesapeake Energy Corporation / 60 Want to speculate on CHK, still? Buy its $100,000 bonds for $14,000 instead.