Chesapeake Energy: An American exploration and production company
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I would like to introduce some unfamiliar companies that may be of some help to your investments.
The company I’m going to introduce is $Chesapeake(CHK)$.
It went public in 2015.
[Company Profile]
Chesapeake Energy Corporation is an American exploration and production company, headquartered in Oklahoma City.
[History & Events]
1993: The company became a public company via an initial public offering, with a valuation of $25 million.
1997: The company wrote down the value of its assets by over $200 million, approximately equal to shareholder's equity at the time, due to low commodity prices and implemented a turnaround plan.
2006: The company was added to the S&P 500.[7] It was removed from the index in 2018.
2008: The company announced its discovery of the Haynesville Shale in East Texas and northwestern Louisiana.
2009: The company partnered with Orange County Choppers to create the first chopper powered by compressed natural gas.
2011: Chesapeake Energy agreed to a 12-year naming rights partnership with the Oklahoma City Thunder for naming and branding rights of the Paycom Center at a cost of $3 million per year, with annual increases of 3%.[11] On April 20, 2021, the agreement was terminated.
2012: The company sold midstream assets for $2.16 billion.
2013: Chesapeake sold 55,000 net acres in the Northern Eagle Ford Shale and 9,600 net acres in the Haynesville Shale to EXCO for aggregate proceeds of $1 billion.
2020: The company filed for bankruptcy protection with $7 billion in debt.[28][29] It emerged from bankruptcy protection in February 2021.
2022: The company acquired Chief Oil & Gas.
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