Reuters When U.S. oil and gas producer Chesapeake Energy Corp emerged from bankruptcy in February, it touted to investors a clean balance sheet, a new board of directors and a promise to restrain spending. Since then, the company has endured a senior management shakeup and, according to two sources familiar with the matter, its interim CEO has told employees that
Reuters U.S. oil and gas producer Chesapeake Energy Corp said on Friday that three executives will leave the company, the latest exits this year after it launched a new chief executive search and emerged from bankruptcy. Frank Patterson, executive vice president of exploration and production; James Webb, general counsel; and William Buergler, senior vice president, will depart on Friday, according
Reuters Chesapeake Energy Corp CHK.O said on Wednesday no members of its board of directors were interviewing to take over from former chief executive Doug Lawler, who resigned last month after leading the company through its Chapter 11 bankruptcy. Interim-CEO Mike Wichterich said the search for a replacement would take a few months, adding that Lawler had not left because of
Yahoo Finance April 27 – Chesapeake Energy Corp said on Tuesday that Chief Executive Officer Doug Lawler would leave at the end of April, just months after the company emerged from a highly watched bankruptcy reorganization. Once the second-largest U.S. natural gas producer, Chesapeake filed for court protection last June, reeling from overspending on assets and a sudden decline in
Oil and Gas 360 OKLAHOMA CITY, Feb. 9, 2021 /PRNewswire/ — Chesapeake Energy Corporation (NASDAQ: CHK) announced today that it has successfully concluded its restructuring process and emerged from Chapter 11, satisfying all conditions precedent under its Plan of Reorganization (the “Plan”). Highlights of the reorganized Chesapeake include: Anticipated cumulative free cash flow of more than $2 billion over the
Reuters U.S. shale oil and gas producer Chesapeake Energy Corp plans to cut 15% of its workforce, an email sent to employees revealed, as it closes on new financing that will allow it to emerge from bankruptcy court protection next week. Once the second-largest U.S. natural gas producer, Chesapeake was felled by a long slide in gas prices. The company
Reuters HOUSTON – Chesapeake Energy Corp’s value has soared since its June bankruptcy filing, the U.S. judge overseeing the natural gas producer’s trial indicated, and is worth $5.13 billion, far above the shale gas pioneer’s estimate. Creditors have offered sharply different estimates of the firm’s enterprise value during its trial in U.S. bankruptcy court in Houston. Judge David Jones’s figure
Reuters Lonestar Resources US Inc LONE.O filed for Chapter 11 bankruptcy protection on Thursday, joining a clutch of shale companies that have succumbed to weak crude prices as COVID-19 pandemic crimps fuel demand. Lonestar, which operates in Texas’ Eagle Ford basin and produced roughly 14,000 barrels of oil equivalent per day, had a total debt of $546.3 million as of June 30
Forbes The NYSE this morning suspended trading in shares of freshly bankrupt Chesapeake Energy and commenced delisting proceedings for the stock, which is frozen at $11.85. The company, in filings yesterday for its Chapter 11 restructuring, in U.S. Bankruptcy Court in Houston, made it clear what the outcome was going to be for holders of its common stock under its
WorldOil Chesapeake Energy is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the U.S. shale revolution to senior lenders, according to people with knowledge of the matter. The dwindling options for a powerhouse that once rivaled Exxon Mobil for title of king of American natural gas comes after Chief Executive Officer Doug
Reuters Debt-stricken Chesapeake Energy Corp said on Monday it was considering a bankruptcy filing, among other alternatives, as the shale driller struggled with an unprecedented rout in oil and gas prices caused by the COVID-19 pandemic. Reuters reported last month that the company was in talks to line up bankruptcy financing and it was discussing a possible loan to aid
Oil & Gas Publishers Note 3/7/2020: The Haynesville Shale continues to be a steady producer. With the recent decline in rig counts the Haynesville has even added one last week. Keep up to date on the rig counts at the Oil & Gas 360 Rig Count Dash Board Oil & Gas 360 North American Rig Count Dashboard A Recipe for
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