The US gas giant has filed Form 10 thatcontains preliminary information about the potential terms and conditionsof a spin-off of Chesapeake Oilfield Services (COS).
The form also includes details regardingChesapeake Oilfield Operating (COO), through which COS operates, as a possiblestand-along entity.
“Chesapeake intends for the spin-off to be tax-freeto its shareholders for US federal income tax purposes, other than with respectto any cash received in lieu of fractional shares,” the Oklahoma-based parentcompany said.
COO
