Chesapeake Energy plans to spin off its oilfield services business, it said in a filing with the Securities and Exchange Commission. the filing said the producer has not determined the exact scope or timing of the transaction. The division is expected to change its name to Seventy Seven Energy Inc. as part of the spin-off.The unit lost $19.7 million on revenue of $2.2 billion in 2013 despite higher revenues, the filing said. It was profitable the previous two years.
-- Jim Fuquay