Chesapeake CEO Aubrey McClendon Stops By North Canton

By -
From Business Journal Daily:
NORTH CANTON, Ohio – Aubrey McClendon, the embattled CEO of Chesapeake Energy Corp., made an unannounced stop to the Stark campus of Kent State University Wednesday to address about 300 of the company's Utica shale employees. 
"He came into North Canton to meet with all of the employees in the Ohio Utica shale region," said Chesapeake spokesman Pete Kenworthy shortly after the meeting concluded just after 1 p.m.  The meeting was closed to the media and public, and security deterred reporters from conducting interviews before and after the private luncheon. 
The meeting was simply an opportunity for the CEO to meet with some of his workers in eastern Ohio, Kenworthy said, and that includes those employed in Chesapeake's midstream subsidiaries. 
Oklahoma City-based Chesapeake is the largest single leaseholder in the Utica shale, with more than 1.3 million acres under contract with landowners who stretch from Belmont to Trumbull counties. The energy company, the second-largest producer of natural gas in the United States, is also the most active driller for natural gas, wet gas, and oil in the region. 
McClendon arrived at roughly 11:15 a.m. after touching down at the nearby Akron-Canton Airport. The CEO, wearing a white open-collared shirt, stepped out of a black SUV and entered KSU Stark's University Center, where the meeting was held.
Read the rest of the article here.

Connect with us on Facebook and Twitter!

Popular posts from this blog

Fracktivist in Dimock Releases Carefully Edited Video, Refuses to Release the Rest

By -
Image
From Energy in Depth: There is something very strange going on along Carter Road, in Dimock, Pennsylvania, and I’m not speaking of natural gas, methane migration, contamination, litigation or even the extensive water testing there by the EPA and others.  No, I’m talking about a new “Watergate” conspiracy, complete with 18 minutes of missing tape (well, video, actually). It seems the ever-present Green Party member and  naturist   Vera Scroggins  (a/k/a  Vera Duerga ) has posted a video of Craig Sautner meeting with the EPA.  Mysteriously, the video is but 14 seconds in length, cutting off conversation in what is obviously mid-stream.  It raises a question Craig Sautner, like  Ronald Reagan in Kings Row , might have asked, “Where’s the rest of me?’  Carter Road, isn’t Kings Row, of course, (at least not until you arrive at  the mansion Scott Ely, one of the Dimock litigants, is building with his royalty money ), but there appears to be...
Read more

The Second Largest Oil and Gas Merger - Cabot and Cimarex

By -
Image
       Due to investor pressure, the U.S shale drillers are being pushed to improve financial and operational performance after a few years of poor returns. Even though the industry has improved its numbers, when compared to last year, investors still want more to be done for them to earn more money.      That's why two mid-tier shale drillers, Cabot and Climarex, have decided to merge in order to eliminate $100 million in annual costs, which means more money for the investors. This all-stock transaction is valued at about $7.4 billion, which is relatively high for the oil and gas sector.      The new entity will be renamed and the headquarters located in Houston, Texas. Cabot shareholders will own 49.5 percent of the new entity, and Climarex the rest.       The Cimarex-Cabot merger will address the investor's demand for a higher amount of returning cash. The initial plan is to pay a 50-cent-per-share special dividen...
Read more

Do You Know The History of Fracking?

By -
Image
  In 2018, 59% of total oil production in the U.S came from hydraulic fracking, which means it accounted for more than two-thirds of domestically manufactured gas. By 2024, fracking will reach an astounding $68 billion market value! Of course, fracking is not a new drilling method as you can trace it back hundreds of years. That's why we want to consider the history of hydraulic fracturing (fracking). We will be stating historical facts about it and focusing on the major historical occurrences that have influenced modern-day fracking. Pre-Fracking Days The idea of fracking started back in 1862 when Edward A.L. Roberts (Civil War veteran) witnessed Confederate soldiers exploding artillery rounds into a canal that obstructed a battlefield. At the time, Edward A.L. Roberts called it superincumbent fluid tamping. On April 26th, 1865, Edward A.L. Roberts began experimenting with exploding torpedoes, which consisted of lowering a torpedo containing an amount of powder from fifteen to tw...
Read more