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SEC Steps Up Probe Of Chesapeake Energy Corp, CEO McClendon-Reuters


Saturday, 2 Mar 2013 04:12pm EST 

Reuters reported that The U.S. Securities and Exchange Commission (SEC) has escalated its investigation into Chesapeake Energy Corp and its Chief Executive Aubrey McClendon for a controversial perk that granted him a share in each of the natural gas producer's wells. Regulators in the SEC's Fort Worth, Texas, office have been looking into the Founder Well Participation Program (FWPP) that grants McClendon up to a 2.5% interest in every well that Chesapeake drills. A spokesman for Chesapeake did not respond to an email request for additional comment on the investigation. 

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