Energy News Highlights: Chesapeake Energy Corporation (CHK)’s Management, Exxon Mobil Corporation (XOM)’s Strategy

Editor’s Note: Chesapeake Energy Corporation (NYSE:CHK), Exxon Mobil Corporation (NYSE:XOM)

Chesapeake’s management changes hit home (Towanda Daily Review)
Management changes at Chesapeake Energy, based in Oklahoma City, Okla., have reportedly affected Chesapeake staff here in Bradford County. Unnamed sources close to the situation have confirmed with The Review that the entire Corporate Communications Media Relations team has been dismissed, including staff from the Athens Field Office. Repeated efforts to contact Chesapeake Energy Corporation (NYSE:CHK), both locally and in Oklahoma City, have been unsuccessful.

Rex W. Tillerson with gas pump

Exxon Mobil Corporation (NYSE:XOM) Must Change Its Strategy For the Future (BasicsMedia)
Although the demand for Exxon Mobil Corporation (NYSE:XOM)’s main products, oil and natural gas, is still high, things might be about to change. The changes may not take place soon, or even in our lifetime, but things appear to point to a direction which is radically different from what Exxon has been manufacturing. The world has suddenly realized the need for alternative sources of energy. This could lead to a cessation of its overreliance on what fossil fuel companies have been selling. Some of the blame for damage on the environment has been directed fossil fuel companies like XOM.

More landowners file suit against Chesapeake (
Several Fort Worth landowners including investor and lawyer Elton Hyder have become the latest to sue Chesapeake Energy Corporation (NYSE:CHK) over what they say is the improper payment of natural gas royalties. In a lawsuit filed Friday in state District Court in Fort Worth, the plaintiffs say Chesapeake Operating and Chesapeake Exploration deducted costs in violation of their lease terms, used sham transactions to lower the reported price on natural gas production and failed to pay royalties on natural gas liquids produced from several leases. Also named is Total E&P USA, a French energy giant that acquired 25 percent of Chesapeake’s holdings in the Barnett Shale in 2010.

Exxon: Neighbors may notice flaring near chemical plant (The Advocate)
Neighbors near the Exxon Mobil Corporation (NYSE:XOM) Chemical Plant on Scenic Highway may notice intermittent flaring during the next several days as equipment is shut down for maintenance work, ExxonMobil Baton Rouge announced Tuesday morning. An email from the company explains that it is not an emergency situation. “Flaring is an environmentally approved measure to safely burn off virtually all the excess hydrocarbons that cannot be processed during a unit shutdown, slowdown, or restart,” Lana Sonnier Venable, of the Exxon Mobil Corporation (NYSE:XOM) Baton Rouge Public & Government Affairs office, said. “We apologize for any inconvenience this may cause and are working to minimize the flaring as much as possible.”

Has Chesapeake Peaked? (Barron’s)
Last week, Icahn revealed that he increased his ownership stake in debt-beleaguered Chesapeake Energy Corporation (NYSE:CHK) to 10%, according to a Securities and Exchange Commission filing. Icahn already has seats on the energy exploration company’s board, but is clearly excited about CEO Doug Lawler, who was named to replace controversial Chesapeake co-founder and CEO Aubrey McClendon. Lawler has two decades of exploration experience at Anadarko Petroleum (APC), and has taken pains to assure analysts, who have mixed opinion on the stock, that Chesapeake Energy Corporation (NYSE:CHK) is on a path toward conservative spending after a wild ride under McClendon.

Exxon Mobil Corp. Stock Rating Reaffirmed by TheStreet (XOM) (Daily Political)
TheStreet reiterated their buy rating on shares of Exxon Mobil Corporation (NYSE:XOM) in a research report sent to investors on Friday morning, reports. “Exxon Mobil Corporation has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income.,” TheStreet’s analyst commented.