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Seventy Seven Energy’s ‘Market Value’ Is About $1.19 Billion

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July 2, 2014

Seventy Seven Energy Inc., the shale fracker spun off by Chesapeake Energy Corp. (NYSE: CHK), rose 6.4% in its first day of trading as a standalone company, Bloomberg said July 1.

The stock, trading under the ticker symbol “SSE,” climbed to $25.06 at the close in New York. That gives the Oklahoma City-based driller a market value of about $1.19 billion.

The spinoff represents one of CEO Doug Lawler’s biggest moves to break up the integrated explorer and driller built by his predecessor, Aubrey McClendon, who was fired last year ...

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