Chesapeake Energy Corp. agreed to sell oil and natural-gas assets for $6.9 billion in a series of transactions that will narrow a cash-flow shortfall threatening to crimp the company’s drilling and production goals.
Chesapeake Energy Corp. made $5.5 billion in pretax profits since its founding more than two decades ago. So far, the second-largest U.S. natural-gas producer has paid income taxes on almost none of it.
Chesapeake Energy Corp. is in advanced talks to sell pipelines to Global Infrastructure Partners for more than $4 billion, said two people with knowledge of the matter.
In 2009, investor Jeffrey Bronchick told directors of Chesapeake Energy Corp. that he was disgusted with their leadership.
Chesapeake Energy Corp.’s decision to cut directors’ pay and other perks may save the company up to $1.65 million a year without addressing investors’ concern that the board failed to rein in Chief Executive Officer Aubrey McClendon’s borrowing and spending spree.
Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon told investors he’s “deeply sorry” for distractions surrounding his personal finances as shares fell the most in three years.
Chesapeake Energy Corp. will name an independent chairman to replace Aubrey McClendon and halt an incentive program that allowed the chief executive officer to amass personal stakes in thousands of company-operated wells.
Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon has been adding oil fields to his personal holdings faster than he can find cash to drill them. He’s steering the company down the same road.
KKR & Co. and Chesapeake Energy Corp. are forming a partnership that will offer owners of oil and gas royalty interests the chance for upfront cash from producing wells or money before the full resource is assessed.
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