Chesapeake Energy Corp (CHK) Key Developments | Reuters.com
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Chesapeake Energy Corp (CHK)

CHK on New York Consolidated

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24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

S&P downgrades Chesapeake Energy to 'SD' from 'CCC' on exchange offer
Thursday, 9 Jun 2016 03:03pm EDT 

S&P On Chesapeake : Chesapeake energy corp. Downgraded to 'sd' from 'ccc' on exchange offer . View exchanges as distressed because investors are receiving less than original promise and the company is currently holding .Believe Chesapeake will continue to execute further exchanges of their debt.  Full Article

No evidence that Aubrey McClendon's death was anything other than vehicular accident- WSJ
Tuesday, 7 Jun 2016 05:45pm EDT 

Chesapeake Energy Corp :Unable to find evidence that Aubrey McClendon's death was anything other than a vehicular accident- WSJ, citing oklahoma city police spokesman.  Full Article

Chesapeake, Total settle royalty lawsuits with Texas landowners
Monday, 23 May 2016 02:48pm EDT 

Chesapeake Energy and Total SA settled hundreds of lawsuits with landowners in Texas' Barnett Shale play who accused the companies of cheating them out of millions of dollars in royalties, local media reported on Monday. : Oklahoma City-based Chesapeake and French major Total will pay $52.5 million to settle 400 lawsuits covering 13,000 clients . Landowners had accused the companies of failing to pay royalties they had agreed to in contracts, including by deducting higher-than-necessary post-production costs from royalty checks . Chesapeake says "we are pleased to have reached a mutually acceptable resolution... and look forward to further strengthening our relationships with our royalty owners." . Settlement is contingent on law firms receiving written approval from 90 percent of clients by mid-July Sources: Fort Worth Star-Telegram (http://bit.ly/1RkPwCn), Dallas Morning News (http://bit.ly/1OJoIvO) (Reporting By Luc Cohen) ((luc.cohen@thomsonreuters.com; +1-646-223-8699; Reuters Messaging: luc.cohen.thomsonreuters@reuters.net)).  Full Article

S&P says Chesapeake Energy Upgraded to 'CCC' from 'SD'
Thursday, 19 May 2016 04:30pm EDT 

S&P Global Ratings : Chesapeake Energy Corp. Upgraded to 'CCC' from 'SD' following senior and convertible note exchange; outlook negative Source (http://bit.ly/23YRKyi) Further company coverage: [CHK.N] ((Bengaluru Newsroom; +1 646 223 8780;)).  Full Article

Chesapeake Energy says entered into purchase and exchange agreements
Thursday, 12 May 2016 07:06am EDT 

Chesapeake Energy Corp : Says has entered into privately negotiated purchase and exchange agreements . From May 5 through May 11, has issued or agreed to issue 28.1 million shares of common stock . Says under exchange agreements it has and will exchange shares of the co's common stock for certain of its outstanding senior notes . Shares will be exchanged for certain senior notes due 2037 ; senior notes due 2017; and senior notes due 2038, and floating rate senior notes due 2019 .To issue common shares in exchange for notes due in the years 2037, 2017, 2038, 2019.  Full Article

Chesapeake Energy Corp - New Civil Antitrust Claims Filed Against Chesapeake, SandRidge Energy - The Associated Press
Thursday, 3 Mar 2016 03:46pm EST 

Chesapeake Energy Corp:A class of oil and gas royalty owners has filed a civil antitrust lawsuit against Chesapeake Energy Corporation, SandRidge Energy Corp. and former SandRidge CEO Tom Ward - AP.The 14-page lawsuit, filed by attorneys with the Dallas-based law firm Burns Charest LLP, alleges that the defendants violated federal antitrust laws by rigging bids and limiting competition for oil and gas leases in northwest Oklahoma.The lawsuit states that the class could ultimately include thousands of affected royalty owners in the geological formation known as the Anadarko Basin Region."This case is about cleaning up the oil patch," says Burns Charest founder and co-managing partner Warren Burns, who represents the proposed class."In a rush to reap illegal profits, the defendants violated the trust and confidence of these royalty owners.Their actions demonstrate that they were willing to betray my clients and violate the law. We are suing to recover damages and to promote legal competition in the oil and gas industry.".  Full Article

Chesapeake Energy Corp - Former Chesapeake CEO McClendon charged with bid-rigging of land leases - Reuters
Tuesday, 1 Mar 2016 06:46pm EST 

Chesapeake Energy Corp:Aubrey McClendon, former chief executive officer of Chesapeake Energy Corp CHK.N, was charged on Tuesday with conspiring to rig bids to buy oil and natural gas leases in Oklahoma, the Justice Department said - RTRS.He faces charges that he set up a conspiracy of two energy companies to not bid against each other in purchasing oil and natural gas leases in northwest Oklahoma from 2007 to 2012, the department said. McClendon is now with American Energy Partners.  Full Article

FourPoint Energy to acquire Chesapeake Energy's remaining western anadarko assets
Wednesday, 24 Feb 2016 11:37am EST 

FourPoint Energy:To acquire Chesapeake Energy's remaining western anadarko assets.Says deal valued at $385 million.Assets to be acquired include interest in nearly 3,500 producing wells.Says fourpoint will assume full operations of the assets at closing.Pro forma for acquisition, prior to customary post-closing adjustments, fourpoint's footprint will exceed 884,000 net acres.  Full Article

Chesapeake Energy Corp suspends quarterly preferred stock dividends
Friday, 22 Jan 2016 08:00am EST 

Chesapeake Energy Corp:Announced that it has suspended payment of dividends on each series of its outstanding convertible preferred stock effective immediately.  Full Article

Chesapeake Energy Corporation appoints R. Brad Martin Chairman
Monday, 12 Oct 2015 04:07pm EDT 

Chesapeake Energy Corporation:Says that R. Brad Martin has been appointed non-executive Chairman of the Company's Board of Directors, effective immediately.  Full Article

BRIEF-Chesapeake Energy extends CEO's term until Dec. 31, 2018

* Entered into an amendment to employment agreement with Robert D. Lawler, president and chief executive officer