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U.S. energy regulators sided with pipeline operator Energy Transfer in a challenge to bankrupt oil and gas producer Chesapeake Energy's request to cancel a nearly $300 million contract, court filings show.
The Federal Energy Regulatory Commission is urging Chesapeake Energy’s bankruptcy judge to relinquish control over a $211 million gas transportation contract dispute, saying the matter should be handled in a non-bankruptcy setting.
Chesapeake Energy on Friday obtained court approval to pay at least $60 million in fees related to its current restructuring strategy, defeating junior creditors who say the fees are intended to lock in a plan that is overly beneficial to favored lenders.
Chesapeake Energy’s junior creditors are challenging the payment of at least $60 million in fees to investors, saying the fracking company has concocted a restructuring proposal designed to exclusively benefit favored lenders.
Chesapeake Energy Corp on Monday sought bankruptcy court approval to cancel $311 million in pipeline contracts, setting up a battle with U.S. regulators and operators including Energy Transfer LP, according to court filings.
Chesapeake Energy Corp <CHK.N> filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets.
Chesapeake Energy Corp's bankruptcy will pile more pain onto leading energy service and pipeline companies whose revenues were already being slammed during the latest collapse in oil prices, according to energy analysts and corporate filings.
Shale pioneer Chesapeake Energy Corp filed for Chapter 11 bankruptcy protection on Sunday, the biggest U.S. oil and gas producer to collapse this year under the weight of too much debt and the drop in energy demand and prices from the COVID-19 pandemic.
The Trump administration has allowed struggling oil and gas company Chesapeake Energy Corp to suspend production from more than 100 federal drilling leases without losing ownership of the assets since the outbreak of the coronavirus, according to a federal database.
Chesapeake Energy Corp, the shale pioneer widely anticipated to seek bankruptcy protection, said on Thursday it had skipped an interest payment due June 15 on some of its notes and its capacity to borrow money was slashed by lenders.
Chesapeake Energy Corp said its borrowing base under a loan agreement was cut to $2.3 billion from $3 billion and its creditors had agreed to waive some defaults.
Chesapeake Energy Corp is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak.
Shares of shale oil and gas producer Chesapeake Energy Corp <CHK.N>, which is staring at bankruptcy, plunged about 66% in a volatile session on Tuesday that was marked by multiple trading halts.
Chesapeake Energy Corp said on Monday it was unable to access financing and was considering a bankruptcy court restructuring of its over $9 billion debt if oil prices don't recover from the sharp fall caused by the COVID-19 pandemic.
Debt-stricken Chesapeake Energy Corp confirmed on Monday it is considering a bankruptcy filing, among other alternatives, as it struggles with an unprecedented rout in oil and gas prices.
* CHESAPEAKE ENERGY CORP SAYS CEO ROBERT LAWLER'S FY 2019 TOTAL COMPENSATION WAS $15.4 MILLION VERSUS $22.7 MILLION IN FY 2018 - SEC FILING
Chesapeake Energy Corp, the debt-laden shale producer, has laid off 200 employees in Oklahoma, the state said on Thursday.
Chesapeake Energy has laid off 200 employees in Oklahoma, the state said on Wednesday.
Pipeline operator Glass Mountain LLC is suing troubled oil and gas producer Chesapeake Energy Corp for allegedly defaulting on an oil transportation contract that had been renegotiated weeks earlier.
Chesapeake Energy Corp shareholders on Monday voted in favor of a reverse stock split, a move that is expected to boost the debt-laden shale producer's share price to avoid a delisting that could trigger calls for some immediate debt repayment.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.