Chesapeake Energy Corp.’s shares fell almost 14 percent Friday afternoon as the embattled natural gas producer said it may have to delay some asset sales as it fights to raise cash amid weak natural gas prices.
Chesapeake CEO Aubrey McClendon received $108 million for his share in wells sold between the beginning of 2011 and the end of April 2012, the company disclosed in its 2012 proxy statement issued today. More »
Cyprus’ commerce minister says that oil firms from Russia, Italy, France, Canada, Malaysia, Israel and the U.S. are among 15 companies and consortiums seeking to carry out exploratory drilling for gas deposits off the island’s southern coast. More »
The Kansas Department of Revenue believes a state law allowing oil company TransCanada to avoid paying nearly $19 million in property taxes has been misinterpreted, but the company said Thursday that it is simply following tax rules approved years ago by the state and noted its large investments in Kansas. More »
Cobalt International Energy Inc., the offshore oil explorer backed by Goldman Sachs Group Inc., says it’s committed to developing oil prospects in Angola’s pre-salt basin after the government said it was free to leave. More »
Chesapeake Energy Corp., already facing a Securities and Exchange Commission inquiry for loans its chief executive made against company assets, may also be carrying $1.4 billion in undisclosed liability. More »
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