Chesapeake Energy

Former CEO of Chesapeake Energy, Aubrey McClendon was killed in an automobile accident March 2nd, a day after being indicted on corruption charges.
Scott Detrow / StateImpact Pennsylvania

The U.S. oil and gas industry was shocked on Wednesday by the sudden death of one of its most influential executives. Aubrey McClendon was killed after driving his SUV into a concrete embankment, a day after being indicted on bid rigging and price fixing charges. He was the former CEO of Chesapeake Energy, a major producer now floundering under low oil and gas prices.

The U.S. oil and gas industry was shocked last week week by the sudden death of one of its most influential executives. Aubrey McClendon was killed in a single-car crash, one day after being indicted on bid rigging and price fixing charges. He was the former CEO of Chesapeake Energy, a major producer now floundering under low oil and gas prices. Dan Boyce of Here & Now contributor Inside Energy and KUNC explores whether Chesapeake’s cautionary tale contains glimmers of hope.

A building on the Chesapeake Energy Corporation campus.
Brent Fuchs / The Journal Record

Last week major Oklahoma energy players Devon and Williams Companies unveiled their latest earnings reports, showing huge fourth-quarter losses. The news wasn’t any better this week for Oklahoma City oil and gas giants Chesapeake Energy and Continental Resources also posted significant losses.

A SandRidge Energy well in northwestern Oklahoma.
Joe Wertz / StateImpact Oklahoma

The Sierra Club filed a federal lawsuit today against three Oklahoma energy companies over earthquakes linked to oil and gas production.

The lawsuit, filed in the U.S. District Court for the Western District in Oklahoma City, accuses Chesapeake Energy, Devon Energy and New Dominion of operating wastewater injection wells that have contributed to a massive spike in earthquakes in Oklahoma and Kansas.

Chesapeake Energy's Losses Rattle Oklahoma Economy

Feb 9, 2016

The Oklahoma company Chesapeake Energy’s stock value plummeted Monday. Over the past year, the stock is down more than 90 percent.

Chesapeake is the second-largest natural gas extractor in the U.S. and a major employer in Oklahoma. Here & Now’s Jeremy Hobson talks with Brian Hardzinski of KGOU in Oklahoma City about how Chesapeake Energy’s struggles are affecting Oklahoma’s economy.

The corporate campus of Chesapeake Energy in Oklahoma City.
Joe Wertz / StateImpact Oklahoma

Chesapeake Energy says bankruptcy isn’t on the table despite Monday’s free fall of its stock price.

The Oklahoma City-based oil and natural gas giant’s stock dropped 50 percent at one point during Monday morning trading due to media reports it hired restructuring attorneys.

Chesapeake Energy employees leave buildings after layoffs were reported Sept. 29, 2015.
Brent Fuchs / Journal Record

The downturn in energy prices dominated the news cycle in Oklahoma in 2015, affecting the bottom line of every oil and natural gas producer, the state’s budget, and had countless trickle-down effects in a state with an economy so reliant on the energy sector.

The price plummet actually started in June 2014, when oil was still above $100 per barrel. They rapidly declined, beginning 2015 at around $55, and currently sit in the $30-40 range.

Chesapeake Energy's Oklahoma City campus
Joe Wertz / StateImpact Oklahoma

Pennsylvania's attorney general is suing one of the nation's largest producers of natural gas over claims it cheated thousands of landowners who signed drilling leases with the company.

The lawsuit alleges that Oklahoma City-based Chesapeake Energy Corp. tricked landowners into signing one-sided leases in the early years of the Marcellus Shale drilling boom and then improperly deducted certain post-production expenses from landowner royalties.

The lawsuit seeks restitution and civil penalties. It was filed Wednesday in Bradford County.

A picture of a natural gas extraction site in the shadow of a setting sun.
Chesapeake Energy

The federal government has fined one of the country’s largest energy producers more than $2.1 million for under-reporting natural gas production on Native American leases.

In 2011, the U.S. Department of the Interior’s Office of Natural Resources Revenue issued Chesapeake Energy an order to restructure its accounting practices in order to correct unreported and misreported volumes on land leased by Native American individuals and tribes.

Former Chesapeake Energy employees leave the building with their belongings after the Sept. 29, 2015 buyouts.
Brent Fuchs / The Journal Record

It's been a rocky five days for Oklahoma's energy sector, with downsizing, buyouts, and even a possible de-listing from the New York Stock Exchange.

Chesapeake Energy's Oklahoma City headquarters.
Joe Wertz / StateImpact Oklahoma

More than 500 Oklahoma employees of Chesapeake Energy are out of a job following the latest layoffs Sept. 29, as oil prices stay below $50 a barrel. Gasoline is cheap, but that relief at the pump can fuel widespread worry about Oklahoma’s oil and gas-reliant economy.

Chesapeake Energy employees leave buildings after layoffs were reported Sept. 29, 2015.
Brent Fuchs / Journal Record

Updated at 3:22 p.m.

Chesapeake Energy Corporation laid off nearly 15 percent of its total workforce on Tuesday at a time when oil prices remain low.

The Oklahoman newspaper reports that Chesapeake laid off 740 total workers, including 562 in Oklahoma City. Employees will get between 13 and 52 weeks of pay and will continue to receive health insurance and job placement help.

Chesapeake Energy's Oklahoma City campus
Joe Wertz / StateImpact Oklahoma

It's been an interesting year for Chesapeake Energy.

The Oklahoma City-based energy giant is involved in a lawsuit with the company's founder, Aubrey McClendon, over some hazy corporate law issues involving his new company - American Energy Partners.

Guards make their rounds on the eighth floor of the Oklahoma County Jail in Oklahoma City.
Brent Fuchs / The Journal Record

For the past few months a committee has been looking at how to pay for a new Oklahoma County Jail, and made its recommendation on Tuesday.

The facility is only about 25 years old, but it’s had construction problems, mold, sewage in the cells – to the point where the U.S. Department of Justice stepped in and said the inmates faced violations of their constitutional rights.

American Energy Partners, LP founder and CEO Aubrey McClendon, who co-founded Chesapeake Energy in 1989.
Provided / The Journal Record

One of the country’s major oil and natural gas producers, and a huge driver of Oklahoma City’s and the state’s economy, filed a lawsuit Tuesday alleging its founder and former CEO stole trade secrets during his final days at Chesapeake Energy Corporation.

Aubrey McClendon has been no stranger to the controversy. In 2012 the Chesapeake board of directors significantly curtailed his responsibility, before he eventually stepped down during the first half of 2013.