Private equity giant the Carlyle Group, briefly the single largest shareholder in Chesapeake Energy Corp., dumped all of its nearly 9% stake in the troubled shale oil and gas producer, according to a May 15 SEC filing.

Carlyle held 864,486 shares of Chesapeake for just over a year before exiting its stake completely May 12, SEC records show. Chesapeake's shares closed the market May 15 at $10.79 per share after gaining 24% in heavy trading. Chesapeake underwent a 1-to-200 reverse stock split April 13 to boost its share price and keep its market listing.

Chesapeake's shares have lost 98% of their value over the past year, and the producer acknowledged in its most recent quarterly report that it had hired restructuring specialists to deal with its more than $9 billion in long-term debt. The company also said that due to the collapse in oil prices there were doubts it could continue as a "going concern."