Asian

5 Russian and Asian Energy Stocks With High Profitability, Business Predictability

In light of Chesapeake Energy Corp. (NYSE:CHK) filing for bankruptcy protection over the weekend and strong economic data from Asian and European markets, five energy companies that have shown high profitability and business predictability are Yantai Jereh Oilfield Services Group Co. Ltd. (SZSE:002353), Shaanxi Yanchang Petroleum Chemical Engineering Co. (SHSE:600248), China Aviation Oil Corp. (SGX:G92), PJSC Lukoil (MIC:LKOH) and Pryce Corp. (PHS:PPC) according to the All-in-One Screener, a Premium feature of GuruFocus.

Chesapeake files for Chapter 11 bankruptcy protection

On Sunday, Oklahoma City-based Chesapeake Energy announced in a press release that it voluntarily filed for Chapter 11 protection to facilitate a comprehensive balance sheet restructuring, including the elimination of $7 billion in long-term debt. The company secured $925 million in debtor-in-possession financing per the restructuring support agreement terms.

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Chesapeake also agreed to the principal terms of $2.5 billion in exit financing, which includes a new revolving credit facility of $1.75 billion and a term loan of $750 million. Shares tumbled over 7% following the announcement.

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Crude oil prices soar on strong Asian and European economic data

On Monday, crude oil prices surged on the heels of strong Asian and European economic data, with Brent crude prices up 1.8% to $41.76 per barrel and West Texas Intermediate crude prices up 3.1% to $39.70 per barrel. CNBC reported that overall sentiment in the eurozone improved from 75.7 in June from 67.5 in May according to European Commission data, while industrial company profits in China rose in

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