After the trading markets in the U.S. closed yesterday, Chesapeake Energy announced three deals that will convert some of their considerable assets into $2.6 billion of cash to help fund development and cut down on debt. In a climate of continuing low commodity natural gas prices, Chesapeake has adopted a strategy of selling “non-strategic” assets [...]
U.S. District Judge David N. Hurd ordered that a lease dispute case between a group of landowners in Broome and Tioga counties (New York) and Chesapeake Energy will go to arbitration for about 150 of the landowners. That’s not-so-good news for those landowners who want to keep the case in federal court. But he also [...]
Chesapeake Energy has filed their first production report with the Ohio Department of Natural Resources (ODNR) for nine wells they drilled in the Ohio Utica Shale/Point Pleasant formations for 2011. A copy of the report is embedded below. The big news is that a single well in Harrison County—in production for just six months of [...]
The South Fayette School District in South Fayette Township (Allegheny County), PA has decided to pass on an offer from Range Resources to transfer a Marcellus Shale drilling lease previously signed with Chesapeake Energy.
Seven Beaver County, PA families filed a lawsuit yesterday in Common Pleas Court accusing O&G Investments of Wooster, Ohio of not drilling on their land (and not paying them) for the past seven years. The lawsuit also names Chesapeake Energy, who purchased the leases from O&G last year and who now, “at the last minute,” [...]
Both pro- and anti-drillers addressed a Wall Street Journal conference this week called ECO:nomics—and the sparks flew. Chesapeake CEO Aubrey McClendon spear-headed the pro-drilling side with his address, and Paul Gallay, president of Riverkeeper, represented the anti-drilling side. Some of Gallay’s comments illustrate the nonsensical arguments from anti-drillers. He responded to McClendon’s vision of getting [...]
At a conference in Charelston, WV on Thursday, Chesapeake vice president Scott Rotruck said the drilling industry needs to do a better job at reducing surface impacts from shale drilling.
Last week, Chesapeake Energy announced it was partnering with M3 Midstream and EV Energy Partners to build a new $900 million gas processing complex in Ohio’s Harrison and Columbiana counties by the middle of next year (see this MDN story). At an industry conference this week, Chesapeake and its partners spoke about the pipelines they [...]
Chesapeake Energy is partnering with M3 Midstream and EV Energy Partners to build a new $900 million natural gas processing complex with facilities in Ohio’s Harrison and Columbiana counties by the middle of next year. The facility will be the largest of its kind in eastern Ohio, providing a place for Chesapeake and other drillers [...]
If plans hold, Chesapeake Energy will drill the first shale gas well in Hancock County, WV within the next few months. Hancock is the northern-most county in WV.
Chesapeake Energy’s CEO Aubrey McClendon went on a 14-day Asian trip last month looking for new investors for his company.
The commodity price of natural gas continues to hover near it’s 10-year low. That’s great news for consumers whose heating bills are lower, but not-so-great news for landowners with leases in the Marcellus Shale. Why? Because low prices mean it’s not profitable for drillers to go after shale gas. They are in it to make [...]
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