Seventy Seven Energy Inc completes spin-off from Chesapeake Energy Corp

Tuesday, 1 Jul 2014 07:01am EDT 

Seventy Seven Energy Inc:Completion of its spin-off from Chesapeake Energy Corporation into stand-alone, publicly traded oilfield services business.Following close of business on June 30, Chesapeake distributed to its shareholders one share of common stock of SSE for every 14 shares of Chesapeake common stock outstanding as of EDT on June 19 record date for distribution.SSE common stock will begin regular-way trading under the symbol SSE on the New York Stock Exchange on July 1, when markets open.Chesapeake common stock will continue to trade on the NYSE under the ticker symbol CHK.Jerry L. Winchester and Cary D. Baetz remain as Chief Executive Officer and Chief Financial Officer, respectively, of SSE.Karl Blanchard has been appointed the Chief Operating Officer of SSE. 

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4:03pm EDT