Flputnam Investment Management Co. adds 26,770 Shares of Chesapeake Energy Co. to its portfolio
Friday, April 14, 2023
Flputnam Investment Management Co. acquired 26,770 shares of Chesapeake Energy Co. during the fourth quarter of 2022, according to Best Stocks. The purchase is valued at approximately $2,526,000.
Chesapeake shares opened at $79.05 on Thursday, showing stability amid ongoing market volatility. Additionally, it has a debt-to-equity ratio of 0.34 further highlighting its financial security.
Chesapeake is a well-known oil and gas exploration company with assets in the Marcellus Shale in Pennsylvania, the Haynesville and Bossier shales in Louisiana and plays in South Texas such as Eagle Ford Shale.
Learn more: Best Stocks > Flputnam Investment Management Co. Acquires 26,770 Shares of Chesapeake Energy Co.
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.