Oklahoma man convicted of federal wire fraud, other charges
OKLAHOMA CITY (AP) — A federal court jury has convicted a 42-year-old man of defrauding Oklahoma City-based Chesapeake Energy Corp. of more than $4.3 million.
Court records indicate that the jury returned guilty verdicts Tuesday against Justin Lane Foust of Sulphur, Oklahoma, on six counts of wire fraud and single aggravated identity theft and money laundering counts. Jurors were unable to reach a verdict on two other wire fraud counts and one of aggravated identity theft.
Chesapeake Energy to buy WildHorse Resource for nearly $4B
OKLAHOMA CITY (AP) — Oil and natural gas giant Chesapeake Energy Corp. plans to acquire Houston-based WildHorse Resource Development Corp. in a nearly $4 billion deal.
The companies announced the agreement Tuesday. The boards of both companies have approved the sale.
Chesapeake: 3Q Earnings Snapshot
OKLAHOMA CITY (AP) _ Chesapeake Energy Corp. (CHK) on Tuesday reported third-quarter net income of $84 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Oklahoma City-based company said it had profit of 7 cents. Earnings, adjusted for non-recurring costs, were 19 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
Oklahoma court rejects claim against Aubrey McClendon estate
OKLAHOMA CITY (AP) — An Oklahoma appeals court has rejected a Tulsa businessman's $500,000 claim against the estate of the late natural gas magnate Aubrey McClendon.
The Court of Civil Appeals ruled Thursday that an Oklahoma County district judge was correct when she dismissed the claim by Thomas Quinn.
McClendon, former CEO of Oklahoma City-based Chesapeake Energy Corp., died in a 2016 vehicle crash after he was indicted for conspiring to rig bids to buy oil and natural gas leases.
Chesapeake: 2Q Earnings Snapshot
OKLAHOMA CITY (AP) _ Chesapeake Energy Corp. (CHK) on Wednesday reported a second-quarter loss of $40 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Oklahoma City-based company said it had a loss of 4 cents. Earnings, adjusted for non-recurring costs, came to 15 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
Oklahoma City University appoints first female president
OKLAHOMA CITY (AP) — Oklahoma City University has named its first woman president in its 114-year history.
The Oklahoman reports that Board of Trustees Chairman Ron Norick announced Sunday that Trustee Martha Burger will become the 18th president of the university July 1. She'll succeed Robert Henry, who will retire June 30.
OKLAHOMA CITY (AP) — A state appeals court has ruled that an antitrust lawsuit against an Oklahoma City-based oil and natural gas company can be heard in state court.
The Oklahoma Court of Civil Appeals last week reversed a trial court's earlier ruling that dismissed the state proceedings against Chesapeake Energy Corp. and agreed with the company the lawsuit should go to federal court.
United Technologies and Chesapeake Energy rise; Roku plunges
NEW YORK (AP) — Stocks that moved substantially or traded heavily on Thursday:
Roku Inc., down $9.05 to $42.05
Investors were disappointed with the streaming video device company's forecasts.
Chesapeake Energy Corp., up 57 cents to $3.20
The natural gas company turned a profit and had a stronger fourth quarter than analysts expected.
Avis Budget Group Inc., up $5.24 to $44.20
The rental car company forecast stronger-than-expected sales in 2018.
Oklahoma-based Chesapeake announces hundreds of layoffs
OKLAHOMA CITY (AP) — Chesapeake Energy Corp. has announced the layoffs of about 400 employees, the vast majority at its headquarters in Oklahoma City.
The layoffs were announced Tuesday in an email to employees from Chesapeake CEO Doug Lawler.
Lawler says the layoffs are part of the company's continuing effort to "structure and position" itself for success.
Judges dismisses Oklahoma earthquakes lawsuit
OKLAHOMA CITY (AP) — A federal judge has dismissed a lawsuit against three oil and gas companies over Oklahoma's ongoing earthquakes.
The lawsuit, filed last year on behalf of Sierra Club Oklahoma, asked for a reduction of production waste from Devon Energy Corp., Chesapeake Energy Corp. and New Dominion LLC, The Oklahoman (http://bit.ly/2nXBAbX ) reported.
Settlement erases some of Aubrey McClendon estate debts
OKLAHOMA CITY (AP) — Chesapeake Energy Corp. withdrew its claim for more than $455 million against the estate of late Oklahoma City energy magnate Aubrey McClendon as part of a settlement of a lawsuit that alleged McClendon had stolen trade secrets when he left Chesapeake in 2013.
Chesapeake Energy to boost drilling budget, rig count
OKLAHOMA CITY (AP) — Chesapeake Energy Corp. has announced plans to increase its drilling budget and rig count in 2017, saying that confidence is growing in the hard-hit energy market.
The Oklahoma City-based company said Tuesday that it would increase its capital expenditures to $1.9 billion to $2.5 billion this year. That's compared to 2016 numbers of $1.65 billion to $1.75 billion.
Chesapeake to sell property in Louisiana for $450 million
OKLAHOMA CITY (AP) — Chesapeake Energy Corp. has announced plans to sell acreage and wells in northern Louisiana for about $450 million.
The Oklahoma City-based company said Monday that it will sell 78,000 acres — including 250 gas wells — in the Haynesville Shale to a private company. Chesapeake says it also plans to sell an additional 50,000 acres in northern Louisiana, and that deal is expected to close within the first three months of next year.
Chesapeake narrows 3Q loss and tops expectations
NEW YORK (AP) — Chesapeake Energy Corp. on Thursday reported a narrower loss during its third quarter as lower costs helped ease the ongoing impact of low commodity prices.
The results topped Wall Street expectations and sent shares up more than 3 percent in afternoon trading.
US Justice Department issues subpoena to Chesapeake Energy
OKLAHOMA CITY (AP) — The U.S. Department of Justice has issued a subpoena to Chesapeake Energy Corp. that seeks information on the oil and natural gas producer's accounting methods for the acquisition and classification of oil and gas properties.
In gas drilling country, the honeymoon is over on royalties
WYALUSING, Pa. (AP) — Jan Brown pores over his royalty statement and wonders where all the money went.
A few months ago, the nation's second-largest natural gas producer siphoned $2,201 worth of gas from his 240-acre property — but paid him only $359 after taking deductions for transportation and processing.
Brown, 59, who relies on the royalties as his sole source of income, says the deductions are outrageous and claims his lease forbids them. He feels cheated and duped.
Duke University files $9.9 million claim on McClendon estate
OKLAHOMA CITY (AP) — Duke University has filed a $9.9 million claim against the estate of former Chesapeake Energy Corp. CEO Aubrey McClendon for pledges the Duke alumnus made that the university says were unpaid at the time of his death in a fiery highway crash.
Chesapeake Energy to sell North Texas Barnett Shale assets
OKLAHOMA CITY (AP) — Chesapeake Energy Corp. is selling its interests in the Barnett Shale formation in North Texas to Saddle Barnett Resources to increase operating income and reduce expenses.
The Oklahoma City-based company said Wednesday it has agreed to end its natural gas gathering agreement with Williams Partners, for which Chesapeake will pay $334 million in cash. Chesapeake has also renegotiated its agreement with Williams for the Mid-Continent area in exchange...
Chesapeake reports 2Q loss
OKLAHOMA CITY (AP) — Chesapeake Energy Corp. (CHK) on Thursday reported a loss of $1.75 billion in its second quarter.
On a per-share basis, the Oklahoma City-based company said it had a loss of $2.48. Losses, adjusted for asset impairment costs and non-recurring costs, came to 14 cents per share.
The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 9 cents per...
- Business WireEQT Announces Appointment of Gary Gould as Chief Operating OfficerMarch 7, 2019
- Globe NewswireInvestor Expectations to Drive Momentum within Boeing, Fitbit, Chesapeake Energy, Kroger, Medical Properties Trust, and Hillenbrand — Discovering Underlying Factors of InfluenceDecember 12, 2018
- BusinessWireSHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation of WildHorse Resource Development Corporation MergerDecember 7, 2018
- BusinessWireWILDHORSE RESOURCE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of WildHorse Resource Development Corporation - WRDNovember 19, 2018