Chesapeake Energy Ends Special Deal for CEO Aubrey McClendon

Chesapeake Energy announced yesterday that the program they’ve had in place with CEO Aubrey McClendon that grants him 2.5 percent ownership and participation in every well drilled by the company (called the Founder Well Participation Program) will end in 2015 at the latest, and possibly sooner. The company also seemed to backpedal a bit from an earlier statement that the board was “fully aware” of McClendon’s private financing deals, deals that he used to cover his 2.5 percent portion of drilling expenses.

From the Chesapeake press release:

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