Chesapeake Energy Corp., the U.S. natural gas producer that almost ran out of money last year, is spending $1.71 billion to expand access to oil-soaked shale in Wyoming and buy back preferred shares that were a drain on cash.
A Chesapeake Energy subsidiary has agreed to nearly $10 million in fines and restoration work to settle federal allegations over unauthorized discharges of fill material at more than two dozen natural gas extraction sites in West Virginia.
State-owned energy giants and international supermajors continue to top lists of the world’s largest oil companies. But the U.S. shale revolution is beginning to make a mark as U.S. independent oil and gas producers rise in the ranks.
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