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Chesapeake Energy Corporation (CHK)

  • Aug. 1, 2013, 12:05 AM
  • Jul. 31, 2013, 5:30 PM
  • Jul. 3, 2013, 12:10 PM
    While Chesapeake's (CHK +0.3%) latest deal represents yet another underwhelming sale print, Sterne Agee says the takeaway is CHK is executing toward its 2013 asset sale target with minimal cannibalization of its production stream. For Wells Fargo, the bigger picture is CHK is now close to the bottom-end of its targeted asset sale range, something Wall Street thought was unlikely just 6-9 months ago.
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  • Jul. 3, 2013, 8:42 AM
    Chesapeake (CHK) CEO Doug Lawler says the $1B asset sale to Exco Resources (XCO) brings the value of CHK's YTD asset sales to ~$3.6B; combined with CHK's anticipated operating cash flow, the sales will allow the company to fully fund its 2013 capital spending budget. The sale is part of CHK's plan to sell up to $7B in assets to raise cash. CHK +0.2% premarket.
  • Jul. 3, 2013, 7:11 AM
    Exco Resources (XCO) announces it purchased $1B worth of oil and gas assets in the Eagle Ford and Haynesville shale formations. The company says the transactions conducted with subsidiaries of Chesapeake Energy (CHK) will be completed this month.
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  • Jul. 2, 2013, 6:15 PM
    Selling by insiders continued across most sectors during Q2 with the exception of energy, InsiderScore reports, which points out four E&P companies with notable buying: Chesapeake (CHK), where insiders bought 634K shares for $13M; Halcon Resources (HK), 1.9M shares for $10.9M; Apache (APA), 28K shares for $2.1M; Murphy Oil (MUR), 30K shares for $1.9M.
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  • Jul. 1, 2013, 12:27 PM
    Chesapeake Energy (CHK +1.8%) completes the previously announced sale of a 50% stake in 850K acres in Oklahoma for $1B to China’s Sinopec (SNP), and the companies have created a joint venture to operate in the area, sharing exploration and development costs. The area associated with the JV produced 9,600 barrels of liquids and 54M cubic feet of natural gas per day in Q1.
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  • Jun. 29, 2013, 9:05 AM
    Pres. Obama's climate plan was mostly upbeat for natural gas (GAZ, UNG), and shares of gas companies such as Chesapeake (CHK) and Cabot (COG) rose. But included in the fine print is an "interagency methane strategy" that could prompt new regulations after closer looks at the scope of leaks from gas wells, pipelines and plants. Methane, a key gas component, is 25x as potent a greenhouse gas as carbon dioxide.
  • Jun. 26, 2013, 11:15 AM
    Chesapeake Energy (CHK +3%) tells a Global Hunter conference it expects to achieve FY 2013 adjusted net income of $1.09B vs. expectations of ~$1B, sees adjusted EBITDA of $4.92B vs. expectations of ~$5B, and sees total production up 2% Y/Y, reports. Also, a CHK director recently bought 150K-plus shares valued at ~$3M.
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  • Jun. 21, 2013, 12:49 PM
    Oil production in Texas’ Eagle Ford shale formation jumped 54% Y/Y in April; the nine fields that make up the majority of Eagle Ford yielded ~530K bbl/day of crude, after February output was revised higher by ~6%. EOG Resources (EOG) is the largest Eagle Ford leaseholder, with 639K net acres, and Chesapeake (CHK) is next with 485K.
  • Jun. 18, 2013, 10:02 AM
    Chesapeake Energy (CHK) on Monday named as chief compliance officer a lawyer it had previously hired to respond to an SEC investigation. Patrick Craine was hired to augment CHK's regulatory and legal compliance efforts after last year handling the SEC's inquiry into the controversial perk that granted former CEO Aubrey McClendon a share in each of CHK's wells.
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  • Jun. 17, 2013, 9:33 AM
    Chesapeake Energy (CHK) declares $0.0875/share quarterly dividend, in line with previous. Forward yield 1.69%. For shareholders of record July 15. Payable July 31. Ex-div date July 11. (PR)
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  • Jun. 14, 2013, 12:28 PM
    Chesapeake Energy (CHK -1.2%) shareholders fail to approve a proposal to declassify the company's board of directors, a step that would have made it easier to replace the entire board all at once. The board actually had supported a change which would have eliminated the current board structure, where each of the eight directors serves a staggered three-year term.
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  • Jun. 7, 2013, 3:16 PM
    Gastar Exploration (GST +3.6%) says it's completed its acquisition of proven reserves and undeveloped leasehold interests in Kingfisher and Canadian Counties, Oklahoma, from Chesapeake Energy (CHK) for $84M. The company also reports that as of today, Michael McCown will assume the position of senior vice president and chief operating officer. Michael Gerlich will continue as GST's CFO and has been promoted to senior vice president.
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  • Jun. 6, 2013, 2:22 PM
    In hundreds of cases across the U.S., drillers have agreed to cash settlements with people who say fracking ruined their water, according to a Bloomberg analysis of legal and regulatory filings. The strategy keeps data from regulators, policymakers, the media and health researchers, and makes it difficult to challenge the industry’s claim that fracking has never tainted anyone’s water.
  • Jun. 6, 2013, 8:38 AM
    Chesapeake Energy (CHK) is again the target of proxy advisory firms ahead of next week's annual meeting, as ISS and Glass Lewis urge investors to vote against CHK's newest independent director, Thomas Ryan, who sits on four boards, which they say is too many. Also, ISS recommends voting no in a non-binding referendum on executive pay, faulting its separation deal with Aubrey McClendon.
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Company Description
Chesapeake Energy Corp is a natural gas and oil exploration and production company. It explores, develops and acquires properties for the production of natural gas and crude oil from underground reservoirs and also provides marketing & midstream services.