The Chesapeake Energy Corporation filed for Chapter 11 bankruptcy on Sunday due to the drop in oil prices and gas demands during the pandemic.

The company was co-founded by the late Aubrey McClendon, a founding owner of the Thunder.

Chesapeake Energy signed a 12-year deal in 2011 for the naming rights to the arena that the Thunder play in.

The deal cost $3 million in 2011 and increased 3% each season.

It is not known how the bankruptcy will affect the naming rights for the arena.