Chesapeake to pay debt; stock price increases this week
Saturday, February 27, 2016
Chesapeake Energy Corp. plans to pay $500 million in debt next month, The Business Journal reports. The company is not seeking bankruptcy protection, even though it was one of the worst performing energy companies in terms of stocks last year. However, investors increased Chesapeake’s stock price by 20 percent Feb. 22.
Chesapeake has the most Utica shale acreage in Ohio out of all companies and has 30 producing horizontal wells in Columbiana County, according to the newspaper.
Chesapeake’s 2015 4th Quarter Earnings Report can be viewed here.
Read more: The Business Journal > Investors Pump Chesapeake Amid Takeover Speculation
Other recent Chesapeake news:
- Chesapeake won’t drill in Ohio’s Utica shale this year Feb. 25, 2016
- Chesapeake hires restructuring firm, stocks drop Feb. 9, 2016
- Chesapeake has no intention to pursue bankruptcy Feb. 8, 2016
- Chesapeake leads Standard & Poor’s 500 Index loser ranking for 2015 Dec. 30, 2015
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Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
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