Chesapeake Energy Corporation Files For Bankruptcy
The Chesapeake Energy Corporation filed for Chapter 11 bankruptcy on Sunday due to the drop in oil prices and gas demands during the pandemic.
The company was co-founded by the late Aubrey McClendon, a founding owner of the Thunder.
Chesapeake Energy signed a 12-year deal in 2011 for the naming rights to the arena that the Thunder play in.
The deal cost $3 million in 2011 and increased 3% each season.
It is not known how the bankruptcy will affect the naming rights for the arena.
