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Tag Archives: Chesapeake Energy Corp

Chesapeake Energy maintains $4 billion credit facility

NEW YORK (AP) — Shares of Chesapeake Energy soared Monday, after the natural gas producer said it was able to amend terms with its lenders and maintain a revolving credit facility at $4 billion. A revolving credit facility allows companies to withdraw money from lenders when needed. In a research note Monday, Citi Research analyst Marisa Moss said the amended ...

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Chesapeake Energy ex-CEO Aubrey McClendon indicted

OKLAHOMA CITY (AP) — Aubrey McClendon, the former chief executive of Chesapeake Energy Corp., was indicted Tuesday on a charge of conspiring to rig bids to buy oil and natural gas leases in northwest Oklahoma. The Department of Justice said in a statement that McClendon is suspected of orchestrating a scheme between two large energy companies, which are not named ...

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Attorney general files suit against natural gas producer Chesapeake and affiliates

Chesapeake Energy Corporation's 50 acre campus is seen in Oklahoma City, Oklahoma, April 17, 2012. REUTERS/Steve Sisney

The state attorney general’s office has filed suit against the nation’s second largest natural gas producer. In the suit filed Wednesday in Bradford County Court, the AG’s office accused Oklahoma-based Chesapeake Energy Corp. and its affiliates of using “unfair and high-pressure sales tactics” to coerce Pennsylvania landowners to sign leases for oil and gas rights. The 65-page lawsuit also says ...

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Pennsylvania sues gas driller over ‘deceptive’ leases

Pennsylvania’s attorney general sued one of the nation’s largest producers of natural gas on Wednesday over claims it cheated at least 4,000 landowners who signed drilling leases with the company. Oklahoma City-based Chesapeake Energy Corp. tricked landowners into signing one-sided leases in the early years of the Marcellus Shale drilling boom and then improperly deducted certain post-production expenses from their ...

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Challenging times continue for oil and gas companies

“Lower for longer” are the words being used to describe the oil and natural gas economic outlook for 2016, creating another whack at West Virginia’s energy sector. U.S. natural gas production could decline in 2016 for the first time in a decade, driven by low oil prices after 10 years of gangbusters growth from shale plays. To understand the decline ...

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Hundreds of royalties lawsuits against Chesapeake combined

DALLAS (AP) — More than 400 lawsuits alleging unpaid oil and gas royalties by Chesapeake Energy Corp. and its affiliates have been consolidated in Texas. The Dallas Morning News reported Sunday that more $1 billion in royalties could be at stake, affecting nearly 25,000 property owners. Attorney Dan McDonald of Fort Worth says the majority of cases involve small landowners. ...

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Townships in Guernsey, Belmont counties are Ohio hot spots for oil, natural gas

Ohio River

Guernsey County’s Londonderry Township is the reigning hot spot for oil from Ohio’s Utica Shale. It is home to the Top 5 oil-producing wells in Ohio in second quarter 2015, according to a new report from the Ohio Department of Natural Resources. All fives wells are owned and operated by Oklahoma-based Ascent Resources (formerly American Energy Utica), an Aubrey McClendon ...

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SALE: Chesapeake assets will be on the market

While holding the number one spot in Ohio’s shale oil and gas drilling, Chesapeake Energy Corp. has decided it is going to sell off some of its assets. Chesapeake’s plan is to sell its assets to help battle the never ending low commodity prices.  The company has yet to announce the exact locations of which assets it will be placing ...

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Chesapeake is putting Ohio on hold

Chesapeake Energy Corp. has decided to cut back on its operations in Ohio until the pipeline that will deliver its Ohio natural gas to the Gulf Coast is completed. Last month, Chesapeake announced it would begin cutting back its Utica Shale gas production by 100 million cubic feet per day.  According to Chesapeake executives, until November, when the Ohio Pipeline ...

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Southwestern Energy is moving in on the action in Pennsylvania

Southwestern Energy Co. is tossing around the idea of building an operating base in southwestern Pennsylvania’s shale fields. As reported by the Pittsburgh Business Times, Paul Geiger, Southwestern’s senior vice president of the company’s new Appalachia division, explained, “The company is looking to set up what he’s calling a ‘forward operating base’ — a dual purpose satellite office and equipment ...

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