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Source: www.moreover.com --- 1 day ago
Chesapeake Energy halted development of Shale.TV, a video Web site meant to explain Barnett Shale natural gas production to regular people. The Oklahoma company had hired Tracy Rowlett, a news anchor at KTVT-TV (Channel 11), to lead the Web site. ... Source: www.chron.com --- 1 day ago
FORT WORTH, Texas — Chesapeake Energy Corp. cited economic conditions as it abandoned plans for Shale.TV, marketed as an online education program on natural gas. A statement Monday from Fort Worth-based Chesapeake Energy cited "economic challenges faced by our country and industry." ... Source: seekingalpha.com --- 14 hours ago
Chesapeake Energy Corporation (CHK) Business Update Call Complete Story » ... Source: www.koco.com --- 19 hours ago
Chesapeake Energy Corp. cites economic conditions as it abandons plans for Shale.TV, marketed as an online education program on natural gas. ... Source: www.topix.com --- 1 day ago
Chesapeake Energy withdrew its request yesterday for a high-impact drilling permit at the proposed TCU drilling site north of Amon Carter Stadium, according to an email from District 9 City Council ... ... Source: dallas.bizjournals.com --- 20 hours ago
Chesapeake Energy Corp. is shelving Shale.TV, an online video program it planned to launch this year to cover developments in the gas-rich Barnett Shale region with veteran Dallas TV anchor Tracy Rowlett at the helm. (CHK) ... Source: seekingalpha.com --- 20 hours ago
Trader Mark submits: Wow. Aubrey McClendon , CEO of Chesapeake Energy ( CHK ) , is infamous for his constant buying of his own company stock. I wrote late last week that the stock of CHK was a case study of hedge funds blowing up and liquidating [ Oct 9: Hedge Fund Liquidation in Pictures ]. I guess it wasn't just hedge funds . Aubrey K. McClendon , the billionaire chief executive of Chesapeake Energy Corp., has sold "substantially all" of his stock in the company over the past three days in order to meet margin loan calls, the company said Friday. Chesapeake Energy did not disclose the size of the stock sale, pending the filing of documents with the Securities and Exchange Commission, but media reports have placed the number of shares at more than 33 million, making him the Oklahoma City-based company's third largest shareholder. "I am very disappointed to have been required to sell substantially all of my shares of Chesapeake," McClendon said in a news release. "These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis." Between Wednesday and Friday, he sold 31.5 million of those shares -- 94% of his holdings -- for $569 million Last month, Forbes showed McClendon at No. 134 on its list of the nation's 400 richest people, with a net worth of $3 billion, an increase from $2.1 billion the previous year. McClendon said he looked forward to rebuilding his ownershi ... Source: metrocolumnistsblog.dallasnews.com --- 21 hours ago
Chesapeake Energy Corp., which has deep interests in the Barnett Shale natural gas field in North Texas, has scrapped a venture that many found odd in the first place. The company is abandoning plans to launch Shale.TV, an online site that was to "report" on issues related to Energy development. Here's the story from Elizabeth Souder in our Business News department. Chesapeake hired big-name local news anchor Tracy Rowlett to be the star of Shale.TV, along with John Sparks, a longtime local TV journalist, and Olive Talley, a former Dateline NBC producer and former reporter at The Dallas Morning News. At the time of his hiring, Rowlett was adamant that Shale.TV would report honestly about issues related to the gas industry. "The only thing that we ask is that people give us a chance and then judge for themselves," he said. One who was skeptical was Steve Blow. He wondered how journalists -- or "former journalists" or "quasi-journalists" or "corporate journalists" or "something" -- could possibly be counted on to provide fair coverage when they were on the payroll of a company that had everything to gain from drilling in the Barnett. And, perhaps more to the point, Steve wondered: "Who's going to watch Shale.TV"? ... Source: industry.bnet.com --- 2 days ago
The Company: Chesapeake Energy Corporation, the largest producer of natural gas in the United States. The Filing: SEC Form 4 filings for Aubrey K. McClendon. The Finding: From September 2002 thorough April 2008, Aubrey K. McClendon, the billionaire chief executive of Chesapeake Energy Corp purchased more than 11 million shares of his company’s common stock at a [...] ... Source: www.tennessean.com --- 1 day ago
OKLAHOMA CITY — Aubrey K. McClendon, the billionaire chief executive of Chesapeake Energy Corp., sold "substantially all" of his stock in the company last week in order to meet margin loan calls, the company said Friday. ... Source: www.star-telegram.com --- 23 hours ago
Shale.TV, Chesapeake Energy's ambitious plan for an online news channel devoted to the natural gas business, is the latest victim of the sharp drop in Energy prices and economic uncertainty. ... Source: www.nbc5i.com --- 18 hours ago
Chesapeake Energy Corporation cited economic conditions as it abandoned plans for Shale.TV, marketed as an online education program on natural gas. ... Source: www.wallstrip.com --- 1 day ago
It seems no one is immune to the insanity that is the financial market. The latest victims are coming from the Energy sector. Chesapeake Energy fell 20 percent today, on concerns of a slowing economy and weakening oil demand. Since July, oil has fallen almost 50% to 78 dollars a barrel. In the last few quarters [...] ...
Source: www.fwbusinesspress.com --- 19 hours ago
Finley Resources Inc. is looking to join fellow oil and gas producers XTO Energy Inc. and Chesapeake Energy Corp. in owning a piece of the downtown Fort Worth skyline as the company works to purchase Carter + Burgess Plaza,... ... Source: www.topix.com --- 1 day ago
Chesapeake Energy Corp. , this year's worst-performing petroleum producer in the Standard & Poor's 500, had its biggest drop in 11 years in New York trading amid concern hedging contracts won't protect the ... ... Source: intelligencepress.com --- 23 hours ago
Chesapeake Energy Corp. disclosed late Friday that CEO Aubrey K. McClendon involuntarily had to sell "substantially all" of his shares in the company in the previous three days to meet margin loan calls. McClendon had held an estimated 33 million shares in the company. ... Source: intelligencepress.com --- 23 hours ago
Energy companies' share prices were rebounding Monday morning, with the Dow Jones Industrial Average and the S&P 500 both up more than 5% in early trading. The news was a welcome turn for the Energy sector, which ended last week drastically down and on reports that the CEOs of Chesapeake Energy Corp. and XTO Energy Inc. had been forced to sell millions of shares of their companies' stock. ... Source: www.peridotcapitalist.com --- 20 hours ago
Much of the recent market decline has been due to forced sellers like hedge fund and mutual fund managers that have had no choice but to sell stocks they own due to redemption notices from their panicked investors. In many cases, forced selling has also taken the form of margin calls. Consider the shares of long time Peridot favorite Chesapeake Energy (CHK) which fell 50% in just the last 3 days of last week. The stock movement felt like panic selling and late Friday we learned that the company's largest shareholder (the co-founder and CEO) was forced to sell most of his 5% stake in the company between Wednesday and Friday. Why? To meet brokerage margin calls that were triggered because he had bought the shares in part with borrowed money. For the most part, I would never recommend that individual investors borrow money to buy stocks. Every so often there are arbitrage opportunities that can be completely hedged and therefore using margin can pay off if downside risk can be hedged away, but speculating on a stock price's future movement based on fundamental bullishness (as was the case with CHK) with borrowed money is a recipe for potential disaster. Aubrey McClendon, Chesapeake's CEO, has paid the ultimate price by being forced to sell 94% of his stake in his own company in the middle of one of the most panicked weeks the market has ever seen. Don't make the same mistake he did by speculating with borrowed money. Leverage has crushe ... Find more results for Chesapeake Energy on RSSMicro.com |
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Major Energy firms have been stung by the sharp pullback in oil, and perhaps none have been hit harder than Chesapeake Energy. Its CEO was in the news Monday about a margin call, and he's had to liquidate almost all of his stake in the company. And now there's more collateral damage: Chesapeake is stopping work on Shale.TV .a video propaganda site it had set up to educate Texans on the joys of having Energy drilling in their back yard. It had even hired Tommy Lee Jones for a 30-minute video called Citizens of the Shale . A Chesapeake spokesperson offered the following spin to Reuters : "Given today's economic challenges faced by our country and industry, it is the right decision as we focus our time and resources on exploration and production activities." We wonder how much they planned to invest in the site. A fact sheet (.pdf) for Shale.TV notes that at least one Texas news anchor left their full time job for the "web venture". Oh, and if you really want to watch Citizens of the Shale , you can send out for a DVD and wait 2 weeks for delivery. ...