But as the company sells off billions in assets to pay $32.6 billion in “spending obligations” (as The Wall Street Journal recently reported), charges of crony capitalism abound and its CEO fends off charges of insider dealing, local defenders of the embattled energy giant have come forth in droves. Some even contend we are the […]
Aubrey McClendon
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Tit for tat
Credit: Brad Gregg On July 11, Businessweek reported that Chesapeake was ordered to pay $100 million to three leaseholders who claimed the Oklahoma City-based company reneged on an agreement to purchase mineral rights. Filed in 2008, the lawsuit brought by three Texas energy companies alleged Chesapeake failed to complete the purchase of three gas leases […]
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This week at the ’Peake
Credit: Brad Gregg First, the taxes. According to a report in Bloomberg News, Chesapeake has paid very little of the taxes owed on $5.5 billion it’s made since its founding. The reason rests with a law — written back when people were still mostly getting around on horse and buggy — that allows oil and […]
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As the well turns
Credit: Brad Gregg Meanwhile, the latest kick to the well head for Chesapeake came in a Reuters story yesterday showing that Chesapeake possibly worked with a competitor to suppress land prices on its oil and gas plays. According to emails obtained by Reuters, Chesapeake CEO Aubrey McClendon had explicit knowledge of his company working with […]
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Tweet tweet
Credit: Brad Gregg One such faux Twitter account appeared shortly after Mustang-based Tate Publishing inadvertently found itself a viral sensation when an audio recording surfaced of its CEO, Ryan Tate, firing 25 employees — but not before calling them “stupid” and “morons.” Like a snarky phoenix rising from the ashes, @TaintPublishing emerged to unleash such […]
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Nonprofits owe much to Chesapeake
Deborah McAuliffe Senner Although these corporate partners provide significant financial support, these partnerships go much deeper. Many of these companies also encourage their employees to give generously of their time, talent and treasure to help build a stronger community and better place to live and work. Their employees are on our boards, working on our […]
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Water wait
Gov. Mary Fallin Shannon Cornman The slick print ads and television commercials that have been a hallmark of the fight will cease, at least for a time, Oklahoma Gazette has learned. Amid a pending federal lawsuit, the tribes have inundated the airwaves with commercials and infomercials revolving around their dispute with the city of Oklahoma […]
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It’s a gusher!
Brad Gregg Revelations continue to percolate from Reuters, the news agency that spurred the headaches for McClendon last month when it reported on his $1.1 billion in personal loans to pay for a CEO perk. More recently, Reuters showed that McClendon had Chesapeake’s permission to trade in commodities, even though a 2009 contract indicated he […]
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Under pressure
Aubrey McClendon Mark Hancock A steady drip — perhaps more of a constant flow — of negative news stories has rocked the Oklahoma City-based company, starting with revelations published by Reuters on April 18 that McClendon took out $1.1 billion in personal loans over three years. The loans, which were through McClendon-controlled companies, were used […]
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You can’t spell McClendon without ‘lend’
Chesapeake Energy CEO Aubrey McClendon has had a few of those in recent months.On April 18, Reuters reported that over the course of three years, McClendon had taken out around $1.1 billion in personal loans from companies he controlled. Those loans were used to secure a CEO perk in which he must pay for 2.5 […]