Chesapeake Energy Corporation Company News
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WildHorse to Lay Off Staff After Chesapeake Acquisition
Monday, January 14, 2019 WildHorse Resources Management Company will permanently close its Houston office, resulting in almost 100 layoffs.
Chesapeake to Cut Rigs to Reduce CAPEX in 2019
Thursday, January 10, 2019 The Oklahoma City-based E&P company is lowering its rig count by 20% in 2019.
Chesapeake Surges After Director Buys Shares
Wednesday, December 26, 2018 Chesapeake shares rose the most since February.
Chesapeake Buys WildHorse for Almost $4B
Tuesday, October 30, 2018 Oklahoma-based Chesapeake Energy will acquire WildHorse, which operates in the Eagle Ford and Austin Chalk. (Pictured: Chesapeake's CEO Doug Lawler)
Shale Companies Sink On Investor Disappointment, Hedging Losses
Wednesday, August 01, 2018 Shares of US oil producers dropped sharply after several companies posted weaker-than-expected results.
Chesapeake to Sell Utica Shale for $2B
Thursday, July 26, 2018 Chesapeake Energy Corp. agrees to sell its Utica Shale assets in Ohio.
Chesapeake Says To Raise 2018 Output On Lower Spending, Shares Jump
Thursday, February 22, 2018 Chesapeake says it expects production to keep rising this year, despite a 12% cut in spending.
Chesapeake Energy Corp. Cuts Hundreds of Employees
Tuesday, January 30, 2018 Natural gas producer Chesapeake Energy lays off 13% of staff.
Chesapeake To Cut Rig Count, Bring Fewer Wells To Production
Thursday, August 03, 2017 Chesapeake beats quarterly profit estimates, but says it plans to cut its rig count and bring fewer wells into production this year.
Chesapeake CEO: Downturn Challenges Helped Oil, Gas Companies
Tuesday, March 07, 2017 Doug Lawler, chief at shale gas forerunner Chesapeake Corp., tells CERAWeek audience the commodity price downturn forced independent upstream companies to become stronger.
Chesapeake Energy Posts Smaller Quarterly Loss
Thursday, February 23, 2017 Chesapeake posts a smaller fourth-quarter loss than a year earlier, when it took huge charges to write down the value of some oil and gas assets.
Chesapeake Earns Almost $1B from Two Haynesville Gas Asset Sales
Tuesday, December 20, 2016 Chesapeake Energy exceeds 2016 divestment goal of $2 billion with second Haynesville transaction in December, which pushed total assets sales to $2.5 billion for the year.
Chesapeake to Sell Haynesville Asset for $450M
Monday, December 05, 2016 U.S.-based natural gas producer Chesapeake Energy Corp says it will sell a part of its acreage in the Haynesville shale area for $450 million in a private sale.
Chesapeake Energy Expects To Exit 2017, 2018 With Higher Output
Thursday, November 03, 2016 Chesapeake reports a surprise adjusted profit, helped by lower expenses, and expects to exit the next two years at higher production rates.
Chesapeake Energy Declares 'Propageddon' With Record Frack
Friday, October 21, 2016 The era of the monster frack has arrived in North America, and Chesapeake is singing its praises.
Chesapeake Shores Up Capital With $1.25B Debt Deal
Wednesday, October 05, 2016 Chesapeake closes a private placement of $1.25B of debt, shoring up capital for debt repayment 10 months after it said it had no plans to file for bankruptcy.
Chesapeake Receives DoJ Subpoena on Accounting for Asset Purchase
Thursday, September 29, 2016 Chesapeake Energy Corp said it received a subpoena from the U.S. Department of Justice seeking information on the accounting methodology for the acquisition and classification of oil and gas properties.
Icahn Nominee Resigns From Chesapeake Board; Shares Tumble
Tuesday, September 27, 2016 Chesapeake says that two directors, including a representative of activist investor Carl Icahn, resigned, a week after Icahn more than halved his stake in the natural gas producer.
Exxon's Accounting Practices Said to Be Reviewed by New York
Friday, September 16, 2016 New York Attorney General's probe into Exxon includes scrutiny of why it didn't write down the value of oil fields during a global collapse in prices that prompted billions in write-offs by rival drillers.
Chesapeake Energy Loses Appeal In $438.7M Bond Dispute
Thursday, September 15, 2016 A federal appeals court rejects Chesapeake's effort to avoid having to pay $438.7 million, including interest, to investors in a bond dispute.
Chesapeake, Tom Ward Sued by Shale Owners for Alleged Scheme
Tuesday, July 19, 2016 Chesapeake Energy, the company Aubrey McClendon built into a natural-gas giant, is sued along with his former partner by lease holders who say the pair conspired to rig bids for drilling rights during the shale boom.
McClendon Police Probe Found No Direct Evidence of Suicide
Wednesday, June 08, 2016 Investigators in Oklahoma City have find no direct evidence that Aubrey McClendon committed suicide when his car struck a wall March 2, a police department spokesman said.
As Oil Boom Goes Bust, Oklahoma Protects Drillers and Squeezes Schools
Tuesday, May 17, 2016 After intense lobbying, Oklahoma's oilmen scored a victory two years ago. State lawmakers voted to keep in place some of lowest taxes on oil and gas production in the United States - a break worth $470 million in fiscal year 2015 alone.
Oil Drillers Adding Hedges as Crude Closes In on $50 a Barrel
Monday, May 16, 2016 Oil producers are taking advantage of the rebound in crude markets to lock in protection against another slump.
SandRidge Says It Is No Longer Target of Antitrust Probe
Friday, April 15, 2016 Oil and gas producer SandRidge Energy says it's no longer a target of a federal grand jury probe concerning antitrust violations related to leasing of oil and gas properties.
Chesapeake Gets Credit Lifeline But Troubles Remain
Friday, April 15, 2016 Chesapeake Energy stocks and bonds stage rally after lenders quash fears of a bankruptcy.
Chesapeake Surprises By Keeping $4B Borrowing Base
Monday, April 11, 2016 Chesapeake surprises investors by keeping its $4 billion loan from banks despite concerns about its liquidity position at a time when many oil and gas producers are seeing their credit cut.
Gas Drillers Go Rigless As Price Collapse Heralds Austerity Era
Thursday, April 07, 2016 Natural gas producers are finally realizing that the age-old adage is true: If you find yourself in a hole, stop digging.
Fooled By Oil's False Bottom, Most US Shale Firms Skipped Hedging In 4Q
Wednesday, March 16, 2016 Anadarko and Chesapeake were among the few to increase hedging in the fourth quarter, according to a Reuters analysis of filings from the largest shale firms.
Special Report: The Final Days And Deals Of Aubrey McClendon
Friday, March 11, 2016 Reuters examines the work and last days of controversial oil-and-gas pioneer Aubrey McClendon.
McClendon's Actions Aren't Uncommon Across US Shale Patch
Friday, March 04, 2016 The actions that resulted in former Chesapeake Energy Corp. chief Aubrey McClendon's indictment aren't uncommon across the shale patch, lawyers and analysts said.
Shale Pioneer McClendon, Accused of Bid Rigging, Dies in Crash
Wednesday, March 02, 2016 Aubrey McClendon's death comes a day after he was charged with rigging bids for oil and natural gas leases.
Chesapeake Ramps Up Asset Sales To Repay Debt Amid Oil Slump
Wednesday, February 24, 2016 Chesapeake says it would make a debt payment due in March and that it planned to sell more assets as it aims to slash its debt load amid collapsing energy prices.
Chesapeake's Half-Billion Dollar Tab Spurs Credit Line Concerns
Tuesday, February 09, 2016 Chesapeake Energy's ability to pay off a half-billion dollars in debt next month hinges on its cash and credit line.
Chesapeake Falls by Most Since '93 Amid Cash Drought Concern
Monday, February 08, 2016 Chesapeake Energy says it has no plans to seek bankruptcy protection, dismissing a report that wiped out half the US natural gas driller's value.
ConocoPhillips Cannibalizes Dividend as Occidental Holds Firm
Thursday, February 04, 2016 ConocoPhillips joins the ranks of oil explorers curtailing dividend payouts after suffering its steepest quarterly loss in almost a decade.
Chesapeake Energy Falls to 15-Year Low as Oil Market Sinks
Tuesday, January 19, 2016 Chesapeake falls to the lowest since April 2000, making it the worst-performing stock in the Standard & Poor's 500 Index.
Billions of Barrels of Oil Vanish in a Puff of Accounting Smoke
Thursday, December 10, 2015 In an instant, Chesapeake Energy will erase the equivalent of 1.1 billion barrels of oil from its books.
INSIGHT: America's Biggest Gas Field Finally Succumbs to Downturn
Wednesday, December 02, 2015 The drilling boom of the past seven years is over, even though thousands of existing wells in the Marcellus region still produce a fifth of US natural gas supply.
Chesapeake Cuts Budget Again On Weak Oil And Gas Prices
Wednesday, November 04, 2015 Chesapeake cuts its 2015 capital budget for the second time this year to cope with a slump in oil and gas prices, but raises its production forecast.
Chesapeake Cuts Workforce by 15%
Tuesday, September 29, 2015 Chesapeake has implemented a reduction of 15% of its workforce due to the low-price commodity environment.
Shale Driller Debt Burden Puts 400,000 Oil Barrels at Risk
Friday, September 18, 2015 As much as 400,000 barrels a day of oil production is at risk as US shale companies like run out of money and slow drilling.
Shale Pioneer McClendon Seeks Global Footprint in Armour Deal
Thursday, August 20, 2015 US shale gas explorer Aubrey McClendon negotiates $100 million acquisition of Australian drilling rights.
Chesapeake Energy Has Quarterly Loss, Shares Tumble
Wednesday, August 05, 2015 Chesapeake Energy reports a quarterly loss after taking a $5-billion charge on some of its oil and gas assets.
Chesapeake Energy Suspends Dividend Payments
Tuesday, July 21, 2015 Chesapeake says it will suspend dividend payments starting in the current quarter to save up to $240 million a year.
Chesapeake Energy Ordered To Pay $379.7M In Bond Dispute
Friday, July 10, 2015 A U.S. federal judge has ordered Chesapeake to pay $379.7 million to bond investors, saying the company waited too long to tell them of its plan to redeem their $1.3 billion of bonds six years early.
FourPoint Acquires Chesapeake's Western Anadarko Assets
Thursday, July 02, 2015 Chesapeake Energy sells western Anadarko assets to FourPoint Energy for $840 million.
Chesapeake Reaches $25M Michigan Settlement Over Leasing Charges
Friday, April 24, 2015 Chesapeake will create a $25 million compensation fund as part of a settlement of antitrust, fraud and racketeering charges brought by the state of Michigan.
Chesapeake Energy Sees Asset Writedowns In 1Q-Filing
Friday, February 27, 2015 Chesapeake Energy, in a regulatory filing, expects to write-down the value of its oil and gas properties in the first quarter, citing low oil and gas prices.
Chesapeake Profit Falls Short; Company To Slash Spending
Wednesday, February 25, 2015 Chesapeake says it will slash its 2015 spending and rig count in response to low crude oil prices that also pushed its 4Q profit below Wall Street expectations.