Post Tagged with: "Chesapeake Energy"

Chesapeake squeezes landowners on costs amid cash crunch
Energy / Hydraulic Fracturing

Chesapeake squeezes landowners on costs amid cash crunch

NEW YORK, NY — “Donna Thornton made sure to include a no-cost provision in her contract with Chesapeake Energy Corp. that let the driller harvest natural gas beneath 2.5 acres of her property in Louisiana. Thinking she had excluded production and marketing expenses and would therefore secure higher royalty payments, […]

Widely eyed US energy data seen providing false readings
Energy / Hydraulic Fracturing

Widely eyed US energy data seen providing false readings

NEW YORK, NY — “Energy investors have taken bets for years on what they thought was an important indicator of future energy production: the weekly rig count data provided by oil service firms. They may want to be careful about how much money they put on the table. A Reuters […]

Chevron cash fuels deal talk
Energy / Hydraulic Fracturing

Chevron cash fuels deal talk

NEW YORK – “Chevron Corp. is hoarding the money it makes from oil and gas operations, prompting investors to wonder if the energy giant is bracing for a spike in costs or will use its $21 billion cash pile to buy a smaller rival. “The company’s cash level rose 60% […]

Energy / Hydraulic Fracturing

Executive Excess 2012: The CEO hands in Uncle Sam’s pocket

WASHINGTON, DC – “Chesapeake Energy paid only $13 million in federal income taxes in 2011, after reporting $2.8 billion in U.S. pre-tax profits.28 According to Bloomberg, the firm’s effective tax rate over the course of its 23-year-history has averaged only about 1 percent. “Chesapeake and other U.S. oil and gas […]

Paul Ryan’s shrewd budget payday
Energy / Hydraulic Fracturing

Paul Ryan’s shrewd budget payday

NEW YORK, NY — “The financial disclosure report Ryan filed with Congress last month and made public this week shows [GOP Vice Presidential candidate Congressman Paul Ryan] and his wife, Janna, own stakes in four family companies that lease land in Texas and Oklahoma to the very energy companies that […]

Pa.: Okla. energy firm’s data filled with errors
Energy / Hydraulic Fracturing

Pa.: Okla. energy firm’s data filled with errors

PITTSBURGH, PA — “The Pennsylvania Department of Environmental Protection says natural gas drilling company Chesapeake Energy last week filed an important Marcellus Shale production report containing so many errors a state database rejected it. DEP spokesman Kevin Sunday said on Tuesday a previous statement by Oklahoma City-based Chesapeake Energy Corp. […]

Fairfield trustees ready to sign another road deal
Energy / Hydraulic Fracturing

Fairfield trustees ready to sign another road deal

FAIRFIELD TOWNSHIP — “The township expects to sign its fourth road use management agreement (RUMA) with an oil and gas drilling company on Thursday. …With the Mellinger drill site on Beeson Mill Road and the Miller Road access to the Grubbs’ site under development during the past few months, trustees […]

Energy / Hydraulic Fracturing

For Chesapeake, A question on how it counts reserves

NEW YORK, NY — “The worry for Chesapeake is that its level of oversight could cause high reserve estimates, leading to excessive write-downs in the future. Historically, Chesapeake’s write-downs have been in line with industry averages, according to a review of estimate revisions from 2006 to 2011. This week Chesapeake […]

Energy / Hydraulic Fracturing

Chesapeake Energy says in U.S. antitrust probe

Chesapeake says also being probed by states ATLANTA, GA — “Chesapeake Energy said it is the subject of a U.S. government investigation over possible criminal antitrust violations related to the purchase and lease of oil and gas properties in Michigan. Chesapeake has received a subpoena from the antitrust division of […]

Energy / Hydraulic Fracturing

Company reports shed more light on Utica shale drilling in Ohio

AKRON — “Devon Energy Hager, Devon Energy’s executive vice president of exploration and production, said his company intends to continue drilling in Ohio’s Utica shale but is looking to move eastward. Gulfport Energy Gulfport Energy, in its second-quarter earning report released Tuesday, outlined a very successful well in Ohio’s Harrison […]