Chesapeake Energy Wants to Sell 10-15% of Its Production to Asia

Chesapeake Energy has gone through some major changes over the past four years. In June 2020, Chessy declared bankruptcy (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership). After Chessy exited bankruptcy, the new owners booted CEO Doug Lawler in April of 2021 (see Doug Lawler Out as CEO of Chesapeake Energy). Lawler tried to chart a new direction for the company by drilling for oil. That strategy was a disaster. The new board selected long-time Chesapeake CFO Dominic “Nick” Dell’Osso as the new CEO in October 2021 (see Chesapeake Makes it Official – CFO Dom Dell’Osso New CEO). Dell’Osso and the board refocused the company on drilling for natural gas, its first and original mission. According to comments made at a conference earlier this week, one of the markets Dell'Osso and his lieutenants have their eyes on is foreign LNG. Specifically, Chessy wants to sell 10-15% of its production to customers in Asia.

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