Chesapeake Energy

Business Intelligence Report
5:59 am
Fri February 20, 2015

Chesapeake-McClendon Suit Raises Hazy Corporate Law Issues, Could Drag On For Years

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.

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Oklahoma News
12:14 pm
Thu February 19, 2015

Texas Attorney Barred From Contacting Chesapeake Energy Royalty Owners

Credit Chesapeake Energy

A judge has barred a Texas-based attorney from contacting Chesapeake Energy Corp. royalty owners about a proposed $119 million settlement covering the company's natural gas wells in Oklahoma.

The Oklahoman reports that District Judge Jon K. Parsley issued a temporarily restraining order last week against attorney Dan McDonald, citing that his "advertising" campaign would disrupt the time between when the settlement is certified and the expiration period to opt out of or object to the settlement.

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Energy
9:10 pm
Tue February 17, 2015

Chesapeake Energy Sues Founder, Former CEO McClendon

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

Oklahoma City-based Chesapeake Energy Corp. is suing its founder and former CEO Aubrey McClendon and his new company for allegedly taking sensitive trade secrets when he resigned from Chesapeake two years ago.

McClendon and his new company — American Energy Partners — call the allegation meritless and say McClendon left Chesapeake with an agreement that he would receive "extensive" information on land, wells and other matters.

The lawsuit alleges McClendon took "confidential information and trade secrets from Chesapeake."

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Energy
9:53 am
Tue September 9, 2014

Chesapeake Energy Racketeering Case Heads To Trial

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

The Michigan attorney general's office says Chesapeake Energy has been ordered to stand trial in a racketeering case that accuses it of leasing land to thwart competitors and then canceling the deals when the competition ended.

A probable cause hearing in the criminal case against the Oklahoma City-based company took place in August in Cheboygan District Court. Attorney General Bill Schuette on Tuesday announced the judge's decision, which had been expected in a written opinion.

The Associated Press sent a message seeking comment from a Chesapeake spokesman.

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Energy
9:42 am
Thu August 28, 2014

Chesapeake Energy Faces Racketeering Accusations

A Michigan Judge Will Rule On Whether Chesapeake Energy Will Face Trial On Racketeering Charges.
Credit Brent Fuchs / Journal Record

A northern Michigan judge plans to issue a ruling on whether Chesapeake Energy should stand trial on racketeering charges that accuse it of leasing land to thwart competitors and then canceling the deals when the competition ended.

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Business Intelligence Report
5:00 am
Mon August 4, 2014

Top Business Stories: OG&E Coal Cleanup, Food Trucks, And A Leaner Chesapeake Energy Corp.

The Oklahoma Gas and Electric power plant in Muskogee.
Credit Rip Stell / Journal Record

OG&E Says Cleaning Up Emissions At Its Coal-Fired Power Plants Could Cost $1 Billion.

The U.S. Environmental Protection Agency sued the company in 2009, claiming pollution from OG&E creates smog in national parks.  The courts agreed and gave OG&E until 2019 to clean it up.

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Energy
1:07 pm
Thu June 5, 2014

Michigan Charges Oklahoma City-Based Chesapeake In Land Leasing Case

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

Charges have been filed by Michigan against an Oklahoma-based energy company in what authorities say was a land-leasing scheme.

Michigan Attorney General Bill Schuette on Thursday says he chargedChesapeake Energy Corp. with conducting criminal enterprises and false pretenses.

Schuette's complaint in Cheboygan District Court says land options in northern Michigan were obtained to keep competing companies from leasing. The leases later were canceled when competition for land ended.

A June 25 arraignment is scheduled.

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StateImpact Oklahoma
2:53 pm
Mon May 5, 2014

Three Of Oklahoma’s Largest Oil Companies’ Plan For How The State Should Tax Them

Credit neillharmer / Flickr

Executives at Chesapeake Energy, Continental Resources and Devon Energy have proposed a plan for Oklahoma’s taxes on oil and natural gas production.

The proposal comes as legislators are debating state oil and gas taxes, which include an incentive for horizontal drilling that expires next year. The Oklahoman‘sAdam Wilmoth reports:

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In Northern MIchigan
6:23 pm
Wed March 19, 2014

Chesapeake Energy Faces Antitrust Charges

MIchigan Attorney General Bill Schuette
Credit State Of Michigan

Representatives of two energy companies that are accused of colluding to keep bids low on oil and gas leases have appeared in a northern Michigan court to face criminal charges.

Michigan Attorney General Bill Schuette announced March 5 that he filed antitrust charges against Chesapeake Energy Corp. and Encana Corp.

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Chesapeake
8:48 am
Thu March 6, 2014

OKC's Cheseapeake Energy Accused Of Collusion

Credit Chesapeake Energy

Michigan Attorney General Bill Schuette says he's filed criminal charges Chesapeake Energy and Encana Corporation for colluding to avoid bidding against each other for Michigan oil and gas leases.

Schuette said Wednesday that the antitrust violations happened in 2010, when Oklahoma City-based Chesapeake and Calgary, Alberta-based Encana bought natural gas leases in Michigan.

He says collusion is suspected of depressing the per-acre cost of leases from $1,510 in May 2010 to under $40 in October 2010.

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