Doug Lawler talks about his new job as the second CEO of Chesapeake Energy Corp. (NewsOK.com)
After spending his entire career at Houston-based Anadarko Petroleum Corporation (NYSE:APC) and its predecessor Oklahoma City-based Kerr-McGee Corp., Doug Lawler was not looking for a change. But a conversation with Chesapeake Energy Corporation (NYSE:CHK) Chairman Archie Dunham convinced him to become the firm’s second CEO. “First and foremost, I saw his conviction and his confidence in the company,” Lawler told The Oklahoman on Friday. “And I saw in an alignment with the shareholders and the support of management and the board that there would be a significant opportunity here.” Lawler will take over at Chesapeake on Monday.
Chesapeake Governance Measures Fail In Vote (Rigzone)
After a year of successfully pushing for sweeping changes at Chesapeake Energy Corporation (NYSE:CHK), shareholders on Friday failed to adopt corporate governance measures some investors had been demanding for years. Chesapeake, the second-largest U.S. natural-gas producer after Exxon Mobil Corporation (NYSE:XOM), parted with longtime Chief Executive Aubrey McClendon in April following a shareholder revolt over high spending. The revolt also resulted in the replacement of all but one board member with directors recommended or approved by Chesapeake’s largest shareholders.
The Return of Aubrey McClendon (DailyFinance)
Only a couple months removed from his post as CEO of Chesapeake Energy Corporation (NYSE:CHK) Aubrey McClendon is back at it. McClendon is said to be in contact with several private equity firms and sovereign wealth funds to raise about $1 billion to get his new venture, American Energy Partners LP, off the ground. Because of all the issues that happened just prior to McClendon’s departure, its easy to forget that he and SandRidge Energy Inc. (NYSE:SD) CEO Tom Ward started Chesapeake with $50,000 only 24 years ago. Today, Chesapeake Energy Corporation (NYSE:CHK) is the second-largest natural gas producer in the U.S. So if there is one thing McClendon has shown that he can do, it’s get an energy company off the ground.
Chesapeake, foreign partners set for big US shale spend in 2013 (Oil & Gas Financial Journal)
Analyzing Evaluate Energy’s recently released 2013 capital expenditure and average well cost data for the major US shale plays, it becomes clear that foreign companies will have a huge influence on how the industry develops over the coming year. Joint ventures involving foreign investors, which have been entered into over the past few years, have budgeted to spend big this year, and will be amongst the biggest spenders in the country for the second year in a row. It will be a big year in particular for Chesapeake Energy Corporation (NYSE:CHK), a company with foreign joint venture partners in five US plays. The company and its various partners are estimated to be the biggest spenders among companies with available drilling plan data in three of those five plays in 2013.
Chesapeake Energy Corporation Declares Quarterly Common and Preferred Stock Dividends (Wall Street Journal)
Chesapeake Energy Corporation (NYSE:CHK) today announced that its Board of Directors has declared a $0.0875 per share quarterly dividend that will be paid on July 31, 2013 to common shareholders of record on July 15, 2013. Chesapeake has approximately 666 million common shares outstanding. Chesapeake Energy Corporation (NYSE:CHK) is the second-largest producer of natural gas, a Top 15 producer of oil and natural gas liquids and the most active driller of new wells in the U.S. Headquartered in Oklahoma City, the company’s operations are focused on discovering and developing unconventional natural gas and oil fields onshore in the U.S.