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chesapeake energy


Is SandRidge Energy close to crumbling?

Regulators’ efforts to reduce earthquake risk in the most seismically active area of the state could put the company at risk, because its operations are so narrowly focused in one area.
Nomac Drilling Corp. derrick man Justin Spruell, right, climbs down from an overhead platform after connecting a section of drill pipe on a Chesapeake Energy Corp. natural gas drill site in Bradford County, Pennsylvania, U.S., on Tuesday, April 6, 2010.  (Daniel Acker/Bloomberg)

Chesapeake reports third quarter loss on $5.4 billion charge

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
An oil worker walks by an oil pump during a sandstorm in the desert oil fields of Sakhir, Bahrain

FILE - In this Thursday, Jan. 8, 2015 file photo, an oil worker walks by an oil pump during a sandstorm that blew in, in the desert oil fields of Sakhir, Bahrain. Across a Mideast fueled by oil production, low global prices have some countries running on empty and scrambling to cover shortfalls, even as more regional crude is on tap to enter the market.(AP Photo/Hasan Jamali, File)

Billions in impairments, spending cuts expected in oil earnings

A $32 billion operating cash shortfall and persistent low oil prices will probably force big shale drillers to announce billions in oil field impairments and spending cuts in third-quarter earnings reports this week.
A spinoff of National Oilwell Varco announced plans to buy a company that supplies the energy industry with pipes, valves and fittings.

Southwestern Energy wells see surge in gas production as costs fall

Southwestern Energy Co. says it is figuring out ways to drill better-performing wells on West Virginia and Pennsylvania land it bought from larger operators last year, even as energy prices remain cheap.
Chesapeake CEO Robert "Doug" Lawler speaks at the IHS CERAWeek energy conference in Houston on March 4, 2014. (Mayra Beltran/Houston Chronicle)

Chesapeake Energy renegotiates $4 billion line of credit, sparking bondholder selloff

Earlier this week, the company eliminated 740 jobs and let go of about one in six of its employees, as part of Chief Executive Officer Doug Lawler’s plan to combat the weak energy market by reducing headcount, selling assets, spinning off business lines and halting a 14-year run of dividend payouts to stock investors.
(Daniel Acker/Bloomberg)

An Oklahoma of oil at risk amid shaky finances for U.S. shale drillers

As much as 400,000 barrels a day of oil production is at risk as U.S. shale companies like Samson Resources Co. run out of money and are forced to slow drilling.
Aubrey McClendon, CEO of Chesapeake Energy Corp., is pictured during the second half of Game 6 in the NBA basketball Western Conference finals, in Oklahoma City on June 6, 2012.  (AP Photo/Sue Ogrocki, File)

Aubrey McClendon pursuing $100 million deal for drilling rights in Australia

McClendon co-founded Chesapeake in 1989 and built it into a U.S. gas titan before his ouster in a 2013 investor revolt.
(Jerry Lara/San Antonio Express-News)

Explorers in need of cash are selling oil fields as last resort

Having exhausted other ways to raise cash amid depressed prices, a slew of producers announced more than $2.4 billion in asset sales last month
(Eddie Seal/Bloomberg News)

2015 already a record year for writedowns, IHS says

Beleaguered drillers wrote off $29 billion in the first quarter of the year alone, more than the 2014 full-year total of about $25 billion.
Chesapeake CEO Robert "Doug" Lawler speaks at the IHS CERAWeek energy conference in Houston on March 4, 2014. (Mayra Beltran/Houston Chronicle)

Chesapeake troubles deepen on glut-driven second-quarter loss

Chesapeake Chief Executive Officer Doug Lawler has been selling assets and dismantling complex financial commitments to free up cash for drilling and reduce debt.