Chesapeake Energy Corp on Tuesday agreed to buy Texas oil producer WildHorse Resource Development Corp in a nearly $4 billion cash-and-stock deal that knocked down the natural gas producer's shares by more than 12 percent.
HOUSTON Chesapeake Energy Corp plans to sell all of its Ohio natural gas acreage to privately owned Encino Acquisition Partners for about $2 billion, the company said on Thursday.
Chesapeake Energy Corp's quarterly profit exceeded analysts' estimates on Wednesday, as it produced more oil and natural gas at higher prices while continuing to lower costs, pulling shares in the company around 3 percent higher.
U.S. shale driller Ascent Resources Marcellus Holdings LLC, which filed for Chapter 11 protection on Tuesday, expects to exit bankruptcy by March 31 under the new ownership of its lenders, lawyers for the company and its lenders said in court on Thursday.
Ascent Resources Marcellus Holdings LLC, a shale driller founded by the late U.S. fracking pioneer Aubrey McClendon, said on Tuesday it had filed for Chapter 11 bankruptcy as part of a negotiated plan with lenders to reduce about $1 billion of debt and boost liquidity.
HOUSTON Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.
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