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Chesapeake Energy Corp (CHK)

CHK on New York Consolidated

7.66USD
8 Dec 2016
Change (% chg)

$0.08 (+1.12%)
Prev Close
$7.58
Open
$7.71
Day's High
$7.75
Day's Low
$7.42
Volume
63,425,186
Avg. Vol
53,911,833
52-wk High
$8.15
52-wk Low
$1.50

Latest Key Developments (Source: Significant Developments)

Chesapeake Energy- Director reports purchase of 50,000 common shares
Thursday, 18 Aug 2016 07:56am EDT 

Chesapeake Energy Corp : Director Thomas Ryan reports open market purchase of 50,000 shares of co's common stock at average price of $5.60 per share on August 17 Source: (http://bit.ly/2b6xMiH) Further company coverage: [CHK.N] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Chesapeake Energy Corp announces upsize and pricing of $1.5 bln term loan facility
Wednesday, 17 Aug 2016 06:00am EDT 

Chesapeake Energy Corp : Chesapeake Energy Corporation announces upsize and pricing of $1.5 billion term loan facility . Chesapeake Energy Corp says has upsized term loan to $1.5 billion from a previously announced size of $1.0 billion . Intends to use net proceeds of loan to finance tender offers for its unsecured notes . Loan will have a five-year term and bear interest at a rate of LIBOR plus 7.50% per annum, subject to a 1.00% LIBOR floor . Loan will be made at par without original issue discount .Expects financing and tender offers to improve its financial flexibility by reducing its near-term maturing debt.  Full Article

Moody's rates new Chesapeake Energy term loan CAA1, changes outlook to positive
Monday, 15 Aug 2016 02:31pm EDT 

Moody's: Moody's rates new Chesapeake Energy term loan CAA1; outlook changed to positive .Outlook change reflects co's better than expected execution on assets sales, benefits of Barnett shale divestiture among others.  Full Article

S&P downgrades Chesapeake Energy Corp to 'CC' on two tender offerings
Monday, 15 Aug 2016 02:24pm EDT 

S&P Global Ratings: Chesapeake Energy Corp downgraded to 'CC' on two tender offerings; outlook negative; new term loan rated 'B-' .Negative outlook reflects the likelihood that we will lower the corporate credit rating to 'SD' at the close of the tender.  Full Article

Chesapeake Energy Corp announces cash tender offers for up to $500 mln
Monday, 15 Aug 2016 06:01am EDT 

Chesapeake Energy Corp : Chesapeake Energy Corporation announces cash tender offers for up to $500 million aggregate purchase price of contingent convertible senior notes . Chesapeake Energy Corp says tender offers will expire at 11:59 p.m., New York City Time, on September 12, 2016 .Chesapeake energy corporation announces cash tender offers for up to $500 million aggregate purchase price of contingent convertible senior notes.  Full Article

Chesapeake announces $1 bln term loan facility
Monday, 15 Aug 2016 06:00am EDT 

Chesapeake Energy Corp : Chesapeake Energy Corporation announces arrangement of $1.0 billion term loan facility . Amounts borrowed under new term loan facility will be unconditionally guaranteed on a joint and several basis by co's units . Intends to use net proceeds of loan to finance tender offers for certain of its unsecured notes .Loan will be from one or more commercial banks, and will be secured by same collateral securing company's revolving credit facility.  Full Article

Chesapeake provides preliminary guidance, agrees to exit Barnett shale
Wednesday, 10 Aug 2016 04:15pm EDT 

Chesapeake Energy Corporation: Chesapeake Energy Corporation agrees to exit Barnett shale, asset to be acquired and operated by first reserve, announces renegotiation of mid-contingent gas gathering agreement and provides preliminary 2017 guidance . Sees 2016 total capital expenditures $1,260 million - $1,760 million . Continent gas gathering agreement and provides preliminary 2017 guidance . Chesapeake agrees to terminate gas gathering and downstream agreements in Barnett . Says to make $400 million payment to Williams Partners . Closes on monetization of gas supply contract . Eliminates future Barnett shale midstream and downstream commitments of approximately $1.9 billion . In addition, company announced it has renegotiated its gas gathering agreement with Williams in its mid-continent operating area in exchange for a payment by company of $66 million . By exiting Barnett, expect to increase operating income for remainder of 2016 through 2019 between $200 and $300 million annually . Separately, accelerated value of gas supply contract by selling rights under long-term gas supply agreement for $146 million in cash proceeds . By exiting Barnett expect to eliminate approximately $1.9 billion of total future midstream and downstream commitments . Chesapeake's mid-continent gas gathering costs are expected to be reduced by 36%, effective July 1, 2016.  Full Article

Chesapeake Energy Q2 adjusted loss per share $0.14 excluding items
Thursday, 4 Aug 2016 06:55am EDT 

Chesapeake Energy Corp : Q2 adjusted loss per share $0.14 excluding items . Q2 earnings per share view $-0.10 -- Thomson Reuters I/B/E/S . Increases full-year 2016 production guidance by 3% while maintaining capital expenditure guidance . Increases target of 2016 total gross proceeds from asset divestitures by year-end to more than $2.0 billion from $1.2 to $1.7 billion . 2016 Q2 production averaged approximately 657,100 BOE per day . Increases target of 2016 total gross proceeds from asset divestitures by year-end to more than $2.0 billion from $1.2 to $1.7 billion . 2017 total production volumes are projected to be down approximately 5% compared to 2016 levels . Chesapeake Energy Corporation reports 2016 second quarter financial and operational results . Q2 loss per share $2.48 . While maintaining its 2016 capex guidance, now sees capex to be at higher end of its current guidance range . As of June 30, 2016, Chesapeake's debt principal balance was approximately $8.7 billion . With closing of VPP acquisitions in 2016 Q2, company has only two VPPs remaining . Sees Fy 2016 NGL Absolute Production 23-25 mmbbls . Q2 earnings per share view $-0.10, revenue view $1.93 billion -- Thomson Reuters I/B/E/S . Selected Haynesville shale acreage expected to be sold . "We continue to work toward additional solutions to improve our liquidity, reduce our midstream commitments".  Full Article

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

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Chesapeake to sell Haynesville asset for $450 million to Indigo Minerals LLC

Chesapeake Energy Corp , the second largest U.S. producer of natural gas, said on Monday that it would sell a part of its acreage in the Haynesville Shale area for $450 million to a private company, which Reuters sources revealed as Indigo Minerals LLC, a competing natural gas producer.