Chesapeake Energy Corp. (CHK) shares closed down 3.69% to $3.65 on heavy volume Monday after the company said that its production volumes will be lighter until its U.S. Gulf Coast operations can come back online following Tropical Storm Harvey.
The company said that it would shut down drilling and the completion of two new wells in the Eagle Ford shale region of Texas due to the storm.
Falling gas prices have already depressed Chesapeake's stock this year, with shares falling more than 48% since January 1.
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