$CHKAQ News

Last published 5y ago

5y agoCVX XOM CHKAQChesapeake Emerges From Bankruptcy Vowing ‘New Era for Shale’BloombergChesapeake Energy Corp., the once-iconic energy explorer that helped ignite the American shale-gas boom, is emerging from bankruptcy protection a shadow of its former self. And in a way, that’s just fine with its boss.
5y agoAONE JEF BEN CHKAQChesapeake Approved to Exit Bankruptcy, Cut $7 Billion in DebtBloombergChesapeake Energy Corp. won court approval for a reorganization plan that slashes about $7 billion in debt in exchange for handing over ownership to its senior lenders, including Franklin Resources Inc.
6y agoBEN CHKAQChesapeake, Franklin Head to Bankruptcy Showdown With CreditorsBloombergChesapeake Energy Corp. and Franklin Resources Inc. will need to defend their debt restructuring plan in December from attack by unsecured creditors who claim the proposal is built on a fraudulent scheme, a judge said Friday.
6y agoCHKAQChina’s $1 Trillion Wealth Fund to Step Up Soured Asset SalesBloombergChina’s $1 trillion sovereign wealth fund is moving to tackle a growing pile of troubled investments such as its stake in embattled commodity trader Noble Group Holdings Ltd., even as the coronavirus pandemic makes any asset sales more difficult.
6y agoWLL CHKAQ MUR XOM+5Mass Offshore Oil-Servicer Failures Imperil $30 Billion of DebtBloombergOffshore oil servicers are going bust at the fastest pace in three years as explorers spurn high-cost drilling to deal with a worldwide slump in commodity prices.
6y agoCHKAQ CRCQQ CHAPOklahoma Oil Driller Chaparral Files for Bankruptcy ProtectionBloombergChaparral Energy Inc. filed for bankruptcy protection for the second time in four years, another financial reckoning for one of the many cash-starved shale drillers punished by sluggish oil prices.
6y agoUPLCQ WLL CHKAQ WPX+6Shale Lenders in Retreat After Decade That Fueled Oil BoomBloombergU.S. banks have already cut credit lines for oil and gas producers, and the squeeze is likely to continue in the next round of loan reviews
6y agoNBL CVX XOM SD+4Shale’s Bust Shows Basis of Boom: Debt, Debt and Debt: QuickTakeBloombergAmerica’s shale boom once looked like one of the century’s great business success stories. Now some of its most iconic names are in bankruptcy court and we’re not done yet. But while Covid-19 and the biggest-ever crude crunch it brought may have been the last straw, the sector’s weaknesses extend back many years, as U.S. oil and gas companies ran up over $300 billion in losses since 2010. Here’s a ...
6y agoINTEQ ASNA BGG HTZ+1Executives at Bankrupt Companies Scored $131 Million in BonusesBloombergBefore the bankruptcies came the bonuses: $10 million at J.C. Penney Co., $25 million at Chesapeake Energy Corp., $1.5 million at Hertz Global Holdings Inc.
8y agoPPC INGR DUK NRG+21What to Watch in Commodities: Oil, El Nino, Arcelor, Trade, ADMBloombergCommodity investors have a mass of information to deal with in the coming week: earnings season is in full flow; the oil market is tracking OPEC’s decision to add supplies; and there are likely to be developments on global trade spats, especially on China. Raw materials are set to close out July with another loss after retreating in June. Let’s see what August brings.
9y agoMUR CHKAQU.S. Index Futures Are Little Changed After Weekly Stock AdvanceBloombergU.S. stock-index futures were little changed after equities capped a second week of gains, with investors all but certain of an imminent interest-rate increase.
10y agoFAST CHKAQ AA JNPRU.S. Stocks Rise as Crude Rally Boosts Energy, Offsets EarningsBloombergU.S. stocks rose, with the Standard & Poor’s 500 Index extending gains as crude pushed past $41 a barrel to overshadow a tepid start to the first-quarter earnings season.
10y agoCHKAQShale Patch Pain Sees Speculators Boost Bets on Oil Price RiseBloombergHedge funds are the most bullish on oil in almost a year as the U.S. shale boom unravels and demand for gasoline strengthens.
10y agoCHKAQ OXYFor Occidental Petroleum CEO Chazen, It Pays to Forgo VacationsBloombergStephen Chazen’s reluctance to take vacation will cost Occidental Petroleum Corp. shareholders at least $1.82 million when he retires as chief executive officer, company filings show.
10y agoMCO FCX CHKAQ LNG+1Icahn Enterprises May Be Cut to Junk by S&P on Portfolio DropBloombergIcahn Enterprises LP, billionaire investor Carl Icahn’s publicly traded holding company, may be cut to junk after losing “a significant amount of value in the last several months,” Standard & Poor’s Ratings Services said Friday.
10y agoCHKAQChesapeake CEO Got Record Option Grant Last Month Before PlungeBloombergChesapeake Energy Corp., the natural gas driller that plunged Monday amid concern that its financial options are narrowing, awarded Chief Executive Officer Doug Lawler the biggest stock option award of his tenure last month.
10y agoAMZN NFLX CHKAQ AAPLFinal-Day Selloff Sends S&P 500 to First Yearly Drop Since 2011BloombergThe Standard & Poor’s 500 Index lost its grip on a fourth consecutive annual gain in the year’s final trading session, as technology shares led a decline in U.S. stocks paced by Apple Inc.
11y agoBK CHKAQChesapeake Noteholders Win Extra Payment of $379.7 MillionBloombergChesapeake Energy Corp. must pay bondholders an extra $379.7 million for having improperly redeemed a series of senior notes issued in 2012, which weren’t due to mature until 2019.
11y agoCHKAQ GS CLRU.S. Oil Rig Count Declines for 12th Straight WeekBloombergU.S. oil explorers idled rigs for the 12th straight week, extending the steepest dropoff in drilling on record as crude prices headed for a second week of losses.
12y agoCHKAQBHP Billiton May Sell Fayetteville Shale Assets in ArkansasBloombergBHP Billiton Ltd., the world’s biggest mining company, may sell its Fayetteville shale gas assets in Arkansas as it looks to balance its holdings in oil and natural gas.
12y agoDUNRQ MCO QRE BAC+4Energy Slump Means $1.6 Billion Lost Before First CouponBloombergGobbling up $50 billion of high-yielding U.S. junk-bond offerings by energy companies this year may have seemed like a good idea when oil was above $100 a barrel and yields were at record lows.
12y agoCHKAQ AEP NEE D+2Spectra, Northeast Propose $3 Billion Natural Gas ProjectBloombergSpectra Energy Corp. and Northeast Utilities proposed a $3 billion pipeline expansion in New England, the latest attempt to fix a natural-gas bottleneck that sent energy prices soaring during a frigid winter.
12y agoBAC CHKAQ PXDDrug Gangs Attacking With Tanks Block Mexican Shale BoomBloombergOil shale drillers in Texas have had to contend with environmental opposition and soaring costs. A few miles south of the border in Mexico, Angel Torrez and co-workers duck gunfire sprayed from drug traffickers.
12y agoCHKAQChesapeake Energy Faces New Charges on Michigan Land LeasesBloombergChesapeake Energy Corp., already facing antitrust claims in Michigan over bids on exploration rights, was charged by the state today with racketeering and fraud relating to land leases.
12y agoXOM CHKAQChesapeake’s Lawler Lifts Cash Flow to Cover Drilling CostsBloombergChesapeake Energy Corp. is on track to make more cash than it spends for the first time in more than a decade as Chief Executive Officer Doug Lawler’s cost cuts take hold.
12y agoMCO VIAC NWSA CHKAQ+14Yellen Testimony, Buffett Meeting, ECB, BOE: Week Ahead May 3-10BloombergFederal Reserve Chair Janet Yellen testifies in the coming week to the Joint Economic Committee of Congress on monetary policy and the U.S. economic outlook.
12y agoBAC MCO CHKAQ CLRShale Drillers Feast on Junk Debt to Say on TreadmillBloombergRice Energy Inc., a natural gas producer with risky credit, raised $900 million in three days this month, $150 million more than it originally sought.
12y agoXOM DELL MCO CHKAQChesapeake’s $1.2 Billion Loans Rely on Dwindling Gas OutputBloombergDwindling production from Chesapeake Energy Corp.’s natural gas fields is undermining fuel sales backing more than $1.2 billion in loans and notes.
12y agoCHKAQ CVX XOM INTU+6U.S. Stocks Advance, Led by Rally in Health-Care SharesBloombergU.S. stocks rose, briefly sending the Standard & Poor’s 500 Index to a record, after health-care shares jumped on a smaller-than-forecast cut in Medicare rates and EBay Inc. climbed as Carl Icahn urged the spinoff of PayPal.
12y agoD COG CHKAQ MS+1Marcellus Goliath Transforms Region to Gas Trade: Energy MarketsBloombergBeneath the rolling pastures and woodland of western Pennsylvania, a corner of Appalachia dotted with Victorian main streets and white church steeples, a radical shift is under way.
12y agoCLF CHKAQ RNWK FB+7U.S. CEO Turnover Reaches Highest Level Since 2008BloombergU.S. corporations are switching chief executive officers at the fastest pace in five years as companies from Wal-Mart Stores Inc. to Microsoft Corp. grapple with shifting customer tastes, competition from upstarts and restive shareholders.
13y agoVLO CHKAQ HES MPC+1Oil Producers Overtaking Refiners on Flood of U.S. Shale: EnergyBloombergEnergy investors are shifting their attention from U.S. refining stocks that added $20 billion in market value last year to oil producers promising record output in shale fields.
13y agoPFGC AONE CVX CHKAQKeker & Van Nest, Latham, Wachtell, Paul Weiss: Business of LawBloombergMajor League Baseball hired San Francisco Attorney John W. Keker to be lead counsel in the suit brought by the city of San Jose, California, accusing it of improperly keeping the Oakland Athletics from moving there to shield the nearby San Francisco Giants from competition.
13y agoBTU ARCH CHKAQMethane Scrutiny in Obama Climate Plan Looms as Cost to DrillersBloombergRiding shotgun in a Toyota 4Runner rigged up with a carbon-fiber pipe and a spectrometer, Duke University researcher Rob Jackson trolled through Washington searching for evidence that natural gas is not quite the climate champion President Barack Obama claimed this week.
13y agoCHKAQChesapeake Must Face Ohio Suit Over Royalties, Court SaysBloombergChesapeake Energy Corp. must face an Ohio lawsuit over allegations the company underpaid gas royalties for years, an appeals court said, reinstating the case.
13y agoSD CHKAQChesapeake to Pay Departed CEO McClendon $11 Million in CashBloombergChesapeake Energy Corp. will pay $11.1 million in cash to former Chief Executive Officer Aubrey McClendon under a termination agreement as he seeks to build a new energy explorer.
13y agoBK CHKAQChesapeake Says Funds Exiting Bond Fight Shouldn’t Sue ElsewhereBloombergChesapeake Energy Corp. said hedge funds asking to withdraw from its dispute with Bank of New York Mellon Corp. over the redemption of bonds shouldn’t be allowed to pursue any other litigation if they do so.
13y agoBEN CVI CHKAQ RIGTransocean Says Icahn Acquired 1.56% of Shares and Seeks MoreBloombergTransocean Ltd., the world’s largest offshore rig contractor, said billionaire investor Carl Icahn and his affiliates have acquired a 1.56 percent stake in the company and are seeking to expand that to more than 3 percent.
13y agoHOV CHKAQ KKR CGMilken Protege Goodman Chases European Loans at BlackstoneBloombergBennett Goodman, who got his start almost 30 years ago helping Michael Milken use junk bonds to fund companies others thought too risky, says he is now the biggest investor in high-yield corporate loans in Europe as local banks back away.
13y agoBAC GS EPD CHKAQ+1Oil at $60 or $120 Doesn’t Prevent U.S. Supplanting SaudisBloombergWhether crude costs $60 a barrel or twice that amount, the U.S. is almost free of depending on imported energy and positioned to supplant Saudi Arabia as the world’s No. 1 producer of oil.
13y agoGS CHKAQ WMBWilliams Bets $2.4 Billion on Pipeline Venture Chesapeake QuitBloombergWilliams Cos., the third-largest U.S. pipeline company, is betting as much as $2.4 billion it can profit from a shale-pipeline partnership that Chesapeake Energy Corp. exited earlier this year.
14y agoEXPE GES FLR PBI+9U.S. Stocks Fall as Optimism Fades After American Payrolls DataBloombergU.S. stocks fell, erasing early gains and paring yesterday’s rally, as better-than-forecast payrolls failed to keep commodity and technology shares from slumping as Americans prepared to pick a president.
14y agoJPM C BLK CHKAQKloppers Buys Time for BHP Revival as Profit Forecast DropsBloombergBHP Billiton Ltd. Chief Executive Officer Marius Kloppers, under investor scrutiny following the failure of three deals, bought himself some time by waiving his bonus after lopping $2.84 billion off the value of BHP’s shale gas assets. The question is, how much?
14y agoCHKAQ XOMShell Gains Acquisition Firepower as Cash Flow Cuts Debt: EnergyBloombergRoyal Dutch Shell Plc is building the firepower to make acquisitions as record cash flow cuts debt to the lowest level in three years.
14y agoBAC CHKAQ XOM KWKAQShale Writedowns Begin as Lower Prices Follow Record M&A: EnergyBloombergThe record slump in natural-gas prices signals companies from BHP Billiton Ltd. to Ultra Petroleum Corp. are at risk of writing off billions of dollars of assets following a bubble in U.S. shale-gas acreage.
14y agoXOM NYT GE EQT+4Chesapeake Energy’s 1% Tax Rate Shows Cost of Drilling SubsidyBloombergChesapeake Energy Corp. made $5.5 billion in pretax profits since its founding more than two decades ago. So far, the second-largest U.S. natural-gas producer has paid income taxes on almost none of it.
14y agoAONE CHKAQChesapeake Shareholders May Challenge Directors’ CEO ReviewBloombergChesapeake Energy Corp. shareholders, who have questioned the credibility of directors leading an internal probe of Chief Executive Officer Aubrey McClendon’s personal finances, may reject the re-election of those board members at today’s annual meeting.
14y agoAONE RRC CVX RESRQ+3Chesapeake Seen Offering Biggest Gain in U.S. Shale Boom: EnergyBloombergChesapeake Energy Corp., battered by a glut-driven collapse in natural-gas prices and growing investor distrust of its management, still is the cheapest way of buying into the U.S. shale revolution.
14y agoEXPE TRIP MCHP PLT+7American Eagle, Con-way, Vishay, Web.com: U.S. Equity MoversBloombergShares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 10:10 a.m. in New York.
14y agoBAC EMR COTY CHKAQ+5S&P 500 Advances to One-Month High After Manufacturing ReportBloombergU.S. stocks advanced, sending the Standard & Poor’s 500 Index to the highest level in almost a month, after faster-than-forecast growth in manufacturing bolstered optimism in the world’s biggest economy.