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Aubrey McClendon

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Chesapeake Energy Lays Off 800 Employees

Doug Lawler

Chesapeake Energy on Tuesday laid off about 800 employees, including 640 from the company’s hometown of Oklahoma City. As The Oklahoman’s Adam Wilmoth reports, the layoffs ended “months of uncertainty” at the natural gas giant, where new CEO Doug Lawler was being pressured to reduce costs and increase profit: Lawler spent most of the day [...]

Chesapeake Energy Picks Anadarko Executive for CEO Post

Robert Lawler

Robert Douglas Lawler, senior vice president of international and deepwater operations at Anadarko Petroleum, has been chosen to lead the Oklahoma City natural gas giant, which has been seeking a permanent replacement for co-founder Aubrey McClendon, who was forced out of the company on April 1. Lawler starts on June 17. In choosing him, Chesapeake [...]

Chesapeake’s Mysterious Master Plan for Campus Expansion Faces Uncertain Future

Over the past decade, Chesapeake Energy spent millions on hundreds of Oklahoma City properties. Homes, land and buildings were purchased. Many were razed. Company-owned shopping centers, restaurants, sleek CNG fueling stations, condos, a hotel, and a heliport were discussed. Chesapeake was tight-lipped, and no one — not the city, public, nor the energy company’s campus [...]

Reuters: Chesapeake and CEO McClendon Under SEC Investigation

Chesapeake Energy CEO Aubrey McClendon and Oklahoma City Thunder owner Clay Bennet chat during an Oklahoma City Thunder game.

What began as an “informal inquiry” in May 2012 has now become an “investigation,” Reuters reports. The U.S. Securities and Exchange Commission has issued subpoenas for information and testimony about a controversial CEO perk that allowed Aubrey McClendon a stake in every well the Oklahoma City energy company drilled, according to a regulatory filing disclosed [...]

Chesapeake: Internal Probe of McClendon Reveals No ‘Intentional Misconduct’

Aubrey McClendon

Chesapeake Energy on Wednesday said its internal review of outgoing CEO Aubrey McClendon’s financial transactions revealed no “intentional misconduct.” Reuters reporters Anna Driver and Brian Grow noted the Oklahoma City natural gas giant did not release a full report of the investigation and that state and federal investigations of the Oklahoma City company are ongoing: Authorities [...]

Uncertainty and Austerity at Chesapeake Energy is Making Oklahoma City Anxious

Oklahoma City is on edge. Nonprofits are worried. When headlines broke this summer scrutinizing the company and CEO Aubrey McClendon’s “intertwined” finances, Oklahoma charities rallied to support their big benefactor. These days, nonprofits are anxious about Chesapeake’s plans to cut its charitable spending by half. And recent news that CEO McClendon had been ousted from [...]

Reuters: SandRidge ‘Adapted’ Chesapeake Playbook, Now Absorbing Similar Scrutiny

SandRidge

Together as company president and CEO, Tom Ward and Aubrey McClendon built Chesapeake Energy into the second-largest natural gas producer in the U.S. And while each have very different personalities, Ward may have borrowed some of the same “idiosyncratic business practices” when he left Chesapeake in 2006 to found SandRidge Energy, according to a new [...]

No Bonus for Aubrey McClendon, and Other Changes at Chesapeake Energy

Aubrey McClendon

Change is coming to Chesapeake Energy, the Oklahoma City natural gas giant’s directors said on Monday. Many of the changes were proposed by shareholders at last year’s annual meeting, but were rejected by Chesapeake’s directors. The composition of the board has changed since, and shareholder criticism fueled the appointment of five new independent directors. Among [...]

Aubrey McClendon on “Mad Money”: Chesapeake’s a Target for Short Sellers

Chesapeake Energy CEO Aubrey McClendon sat down with Mad Money‘s Jim Cramer and talked about the company’s future and its recent controversy. It was McClendon’s first televised interview since questions concerning the intertwined finances of the Oklahoma’s City company and its CEO surfaced earlier this year. In the interview, “McClendon blamed much of the negative [...]

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