A Chesapeake Bankruptcy Would Leave a Wide Wake

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From Reuters:
U.S. oil and gas pipeline companies including Williams Companies Inc and Kinder Morgan Inc have contracts worth billions of dollars that might be at risk as Chesapeake Energy Corp aims to slash its debts amid collapsing energy prices. 
Chesapeake said on Monday it had no plans to file for bankruptcy after sources told Reuters the firm, whose debt is eight times its market value, had asked its longtime counsel to look at restructuring options. 
The way it deals with its financial woes could be a lifeline or death sentence for midstream pipeline companies. Often called the energy market's "toll takers," they have long-term contracts with producers such as Chesapeake to move, process and store energy products, experts said. Many of these companies are master-limited partnerships, or MLPs.

Chesapeake said it has commitments to pay about $2 billion a year for space on pipelines run by MLPs, federal filings show.
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