Chesapeake Energy upsizes debt offering from $850 million Chesapeake Energy (ticker: CHK) announced last week that it has upsized its private placement to $1.1 billion from an original amount of $860 million of aggregate principal amount. The offer is for 5.5% convertible senior notes due 2026, and includes a 30-day option to purchase up to an additional $150 million aggregate
Total exercises its preemption rights for 100% ownership of Barnett Shale assets French oil-major Total (ticker: TOT) announced that it will exercise its preemption right to acquire the remaining 75% interest in its jointly held Barnett Shale operations in North Texas from Chesapeake Energy (ticker: CHK). Total E&P USA, the company’s U.S. branch, has held 25% interest in the assets
Continental divests North Dakota and Montana assets for $222 million Continental Resources (ticker: CLR) announced the sale of non-core assets today for $222 million. The assets include 68,000 net acres in North Dakota and 12,000 net acres in Montana with 2,800 BOEPD of current production. The assets were sold to an undisclosed buyer, CLR said in their press release. The
Oakspring Energy presents at EnerCom’s The Oil & Gas Conference® During Oakspring’s breakout sessions, management was asked the following questions: Where are you active? How does more sand impact the EUR’s of the wells? Is what you are doing tailored to this point in time [the pricing cycle] or will you change strategy in a rising oil price environment? Will
Chesapeake Energy Corporation (ticker: CHK) announced on May 23, 2016, the company plans to issue debt in exchange for equity. Chesapeake announced that about 5 percent of the company’s outstanding shares will be exchanged for equity, the second such transaction this month. From the Chesapeake Enrgy 8-k: “From May 16, 2016 through May 23, 2016, the Company has issued or
Chesapeake Reports Q1 2016 Chesapeake Energy Corporation (ticker: CHK) reported its Q1 financial and operational results. Highlights follow: Signed agreement to sell approximately 42,000 net acres prospective for the STACK play in Oklahoma for approximately $470 million; includes current production of 3,800 BOE per day 2016 first quarter production averaged approximately 672,400 BOE per day, an increase of 1% year
Aubrey McClendon, who was co-founder (with Tom Ward) of Chesapeake Energy (ticker: CHK; CHK.com), died in a one-car crash in rural Oklahoma early morning March 2, 2016. A maverick in America’s shale oil and gas industry, he will be mostly remembered for building Chesapeake into one of America’s largest natural gas producing companies. The company was founded with a loan of
Commodities price drop results in $14.856 billion net loss for 2015; focus on completions in 2016; targeting to put 330-370 wells on production in 2016; divestitures continue Chesapeake energy has been a beacon of attention recently in the oil and gas industry due to their alleged financial struggles with analysts pinpointing them as a bankruptcy candidate. Despite this criticism, Chesapeake
Oil & Gas Companies are Finding Ways to Meet Capital Requirements in a Down Market Energy Finance: with oil prices still searching for a bottom, energy companies have been in search of ways to lighten burdens through good financial decisions. The ubiquity of capital needs and consequent debt associated with the oil and gas sector necessitates that many companies use
Chesapeake Energy (ticker: CHK), the second largest producer of natural gas in the United States, altered its financial strategy via a company news release on July 21, 2015. The announcement included a handful of cash-saving moves, ranging from internal budget decisions to outright divestures. The initiatives are listed below. CHK will not issue a dividend for its common shares in
New Designs Deliver Big Results The Powder River Basin of Wyoming has traditionally been exploited for its coal resources and coalbed methane gas opportunities. Increased knowledge and improved execution from the oil and gas industry has changed that perception. The region has more than doubled its oil output since 2009, and the handful of E&Ps in the region have been
Not Supported by AEP Founder McClendon The latest chapter of the Aubrey McClendon/Chesapeake (ticker: CHK) saga has closed. For now. On April 14, 2015, a subsidiary of American Energy Partners (AEP) agreed to hand over 6,000 acres in Ohio and pay up to $25 million to Chesapeake, ultimately settling a lawsuit launched by the latter E&P in February. Chesapeake alleged
