LoginMy Member Benefitsarchivesresearchyour teamabout usFAQLog out
×
Hot Topics
Share
Access Your Profit Alerts

Chesapeake Energy

Article Index

Chesapeake Energy Stock Price Up Today After New Layoff Report (NYSE: CHK)

By , Contributing Writer, Money Morning -

Chesapeake Energy stock price

The Chesapeake Energy stock price climbed 3% to $7 today after the energy producer announced it will slash its workforce by 15% amid falling natural gas and crude oil prices.

However, shares remain down more than 65% year to date.

Here's why the Chesapeake Energy stock price could fall even further from here...

By the Numbers: Ten Incredibly Interesting Facts for You to Know

By , Money Morning -

90 years is the amount of prison time looming over each of three former ICAP employees. The men face charges of conspiracy to commit wire fraud and commission of wire fraud stemming from their attempt to manipulate the LIBOR rate. LIBOR is used to price $800 trillionworth of financial instruments, from loans to derivatives. ICAP itself must pay fines of $65 million to U.S. authorities and 14 million British pounds to U.K. authorities.

To continue reading, please click here...

The 5 Worst CEOs of 2012 and Why They Should Be Fired

By , Associate Editor, Money Morning -

Among others, Mark Zuckerberg of Facebook Inc. (Nasdaq: FB), Brian Dunn of Best Buy Co. Inc. (NYSE: BBY) and Andrew Mason of Groupon Inc. (Nasdaq: GRPN) all had a rough year.

Money Morning's experts picked through the list of disappointing names and came up with the five worst CEOs of 2012.

Here are the finalists, along with our experts' reasons why these weak performers should be given the axe in 2013:

  1. Ben Bernanke, Chairman of the U.S. Federal Reserve - Picked by Chief Investment Strategist Keith Fitz-Gerald:

    Bernanke is the CEO of the biggest private institution on the planet, the Fed.

    Despite overwhelming evidence that the theories and methods he is using have not worked, are not working and have never worked since the dawn of recorded history, he continues to plow ahead with more of the same failed monetary and fiscal policy that got us into this mess.

    In the process, he risks unspeakable damage to the United States and to the global financial system while only kicking the proverbial can down the road.  

To continue reading, please click here...

CNOOC Creates Biggest China-U.S. Oil Deal For Stake in Shale Gas Industry

By , Associate Editor, Money Morning -

China's state-owned energy company China National Offshore Oil Corp. (CNOOC) (NYSE ADR: CEO) late Sunday announced it would invest $2.16 billion in U.S.-based Chesapeake Energy Corp. (NYSE:CHK) to increase China's stake in unconventional gas resources like shale gas. It is the largest ever China-U.S. oil and gas deal.

CNOOC initially will pay $1.08 billion for a 33% stake in Chesapeake's Eagle Ford shale acreage in Southern Texas. China's third-largest oil company will invest an additional $1.08 billion by paying 75% of Chesapeake's drilling and completion costs in coming years, allowing Chesapeake to tap hard-to-extract shale gas deposits and boosting its weak balance sheet.

The deal highlights China's need to develop its shale-gas extraction techniques. The country has 26 trillion cubic meters of shale gas reserves that are largely unexplored due to a lack of drilling ability - and Chesapeake is a pioneer in the shale gas industry.

Read More…

SandRidge Energy Buys Oil Developer to Reduce Its Reliance on Suffering Natural Gas

By , Associate Editor, Money Morning -

SandRidge Energy, Inc. (NYSE: SD) on Sunday announced it would pay $1.6 billion for Arena Resources, Inc. (NYSE: ARD) to develop a more oil-focused business, as natural gas prices remain low.

SandRidge will pay $2.50 in cash and 4.78 SandRidge shares for each Arena share - a 17% premium to Arena's $34.26 Thursday closing price. The combined company will be valued at around $6.2 billion.

This purchase makes SandRidge one of the largest producers of conventional oil and gas in West Texas. It's the second acquisition for the company since November, when it paid $800 million for Forest Oil Corp. (NYSE: FST) properties.

Read More…

Today's Markets
DJIA -81.95 (0.33%) 24,575.84
NASDAQ -7.81 (0.10%) 7,773.70
S&P -4.30 (0.16%) 2,763.01