Chesapeake Energy’s New CEO Shakes Up Top Ranks (The Wall Street Journal)
Chesapeake Energy Corporation (NYSE:CHK)’s new chief executive shook up the natural-gas giant’s top ranks Monday, saying four senior executives would leave, including the longtime chief operating officer who served as interim CEO earlier this year. Chief Executive Doug Lawler said in an email to Chesapeake staff Monday afternoon that the “restructuring will position Chesapeake to be more competitive and focused,” thanking each of the departing executives. The corporate reshuffling comes as Mr. Lawler forges a new strategy for the Oklahoma City-based company, which remains staffed with many lieutenants of his predecessor, Chesapeake Energy Corporation (NYSE:CHK) co-founder Aubrey McClendon.
ConocoPhillips to Sell Oil Sands Assets to Exxon (Oil Price)
ConocoPhillips has cut a deal to sell all of its Clyden oil sands property—a total of 226,000 acres–in Canada to Exxon Mobil Corporation (NYSE:XOM) Mobil Canada and Imperial Oil for $720 million. The deal, announced on Thursday, 8 August, means Exxon Mobil Canada and Imperial Oil will buy 100% of ConocoPhillips Clyden oil sands stake, with Exxon acquiring 72.5% and Imperial acquiring 27.5%. So really, it’s largely an Exxon deal because Imperial is 70% owned by Exxon Mobil Corporation (NYSE:XOM).
CEO James Bennett added to SandRidge board (News OK)
SandRidge Energy Inc. (NYSE:SD) said Monday that CEO James Bennett has been named to the company’s board. Bennett has been named a director effective immediately. He replaces founder and former CEO Tom Ward, and will be up for election next year. Bennett joins an expanded board that in March added four new directors hand-picked by activist shareholder TPG-Axon Capital.
Exxon Mobil Is Still Worth Considering As An Income Idea (Seeking Alpha)
Exxon Mobil Corporation (NYSE:XOM) second quarter results, released August 1, missed expectations and showed a challenging period for the oil giant. But even with the disappointment, just how strong is Exxon’s dividend? In this article, let’s take a deep dive.
More changes at Chesapeake? (News OK)
Our NewsOK Energy team chatted with readers Tuesday about changes at Chesapeake Energy Corporation (NYSE:CHK). You can join our energy Q&A’s on the second Tuesday of every month at 10 a.m. and submit your questions about energy companies and developments across the state. Below is an unedited transcript of Tuesday’s chat.