This is a real positive for Chesapeake Energy, and for the energy sector in general. If Chesapeake Energy's liquidity ran dry and it had to declare bankruptcy that event could have taken an out sized portion of the sector down with it. While this agreement doesn't guarantee Chesapeake Energy, or the industry at large, won't face that threat in the future, it does kick the can down the road so to speak. The hope being that in a year's time oil and gas prices will have improved to the point where the company's cash flow can better support what will hopefully be an improved balance sheet after company completes some more asset sales and debt restructuring.