When I've talked with Ogle Moles about the future of Chesapeake Energy, the big concern hasn't been bankruptcy, but a potential buyout or acquisition by an out-of-state company. This would be a double-whammy nightmare for the Oklahoma City and state economy. Not only would a lot of people lose good jobs, but a lot of good people may leave town to follow a job.
Well, that nightmare scenario may not be too far away. According to Bloomberg Business Week, Chesapeake is now a target for acquisition: