HOUSTON,Feb 9 (Reuters) – U.S. shale producer ChesapeakeEnergy Corp CHKAQ.PK on Tuesday exited Chapter 11 bankruptcy with business plan that nods to its founders’ emphasis on natural gas after a recent push into crude oil.
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Is Chesapeake Energy going back to the future?
Robert Lawler, Chesapeake CEO looks to be going back to the future. The long and winding road for independent oil and gas producer Chesapeake Energy rounded another curve this week with the company鈥檚 emergence from Chapter 11 bankruptcy proceedings in leaner shape and with a new strategic focus that echoes an old one.
What does Chesapeake Energy’s bankruptcy mean for natural gas?
HOUSTON, Feb 9 (Reuters) – U.S. shale producer Chesapeake Energy Corp CHKAQ.PK on Tuesday exited Chapter 11 bankruptcy with business plan that nods to its founders’ emphasis on natural gas after a recent push into crude oil.
What is the history of the Chesapeake Energy Company?
Chesapeake was founded in 1989 by wildcatters Aubrey McClendon and Tom Ward. As CEO McClendon snapped up drilling land across the United States in a belief that gas prices would stay high. However, McClendon stepped down in 2013, as investigations swirled into possible antitrust violations, and later died in a car accident.
Is Chesapeake turning into a natural gas growth company?
鈥淲hat鈥檚 clear from the development plans, is that Chesapeake will become a natural gas growth company anchored by the Marcellus and Haynesville while the oil assets are harvested for free cash flow,鈥?Josh Silverstein, a Wolfe Research LLC analyst, wrote in a note to clients.