NEW YORK, Dec 7 (Reuters) - Chesapeake Energy Corp (CHK.N) on Sunday said it has further reduced its capital expenditure plans for 2009 and 2010 in order to achieve a cash neutral budget that does not depend on future asset sales.
The company plans to build up to $4 billion in additional cash resources over the next two years, it said in a statement. (Reporting by Helen Chernikoff; Editing by Leslie Adler)
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The "Dubai model" -- building shining cities in the desert at breakneck speed through the import of foreign residents, finance and labor -- is now on the ropes. Full Article
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