http://online.wsj.com/article/SB10001424052702304070304577396391732954530.html?mod=googlenews_wsj This fracking crock of flowback is imploding faster than I can type . . . http://www.pressconnects.com/apps/pbcs.dll/article?AID=/201205021414/BUSINESS/120502032 As if we didn't know it was a scam . . . http://energypolicyforum.com/?p=401 As if some of us didn't know all this 4 years … [Read more...]
Search Results for: chesapeake
Royally Fracking Ripped Off
By frackers. Who fracking else ? Chesapeake, Range, you name it - they make as much money fracking landowners as shale. Where do you think all those creative accountants and lawyers went when ENRON imploded ? Into fracking. http://www.fwweekly.com/2014/04/16/royalty-rip-off/ Royalty Rip-off Around the country, landowners are suing Chesapeake and other drillers for massive deductions from royalty checks. Posted April 16, 2014 by PETER GORMAN in News Donald Feusner used to be a … [Read more...]
Chesapeake Energy: A Problem like Aubrey – Part 3
Shareholders of Chesapeake Energy received an unwelcomed wake-up call on Wednesday, April 17, 2012. Reuter's headline screamed "Exclusive: Chesapeake CEO took out $1.1 billion in unreported loans" - By Anna Driver and Brian Grow Aubrey McClendon, the CEO of Chesapeake Energy Corp, has borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells - a move that analysts, academics and attorneys who reviewed loan documents say raises the potential … [Read more...]
Chesapeake Energy: It’s Raining Shoes – Part 4
AKM Operations is an informal operation within Chesapeake Energy. Its function is to manage Aubrey K. McClendon’s personal business. AKM Operations include accountants, engineers and supervisors and handled around $3,000,000 of McClendon’s personal interests in 2010. Special Report: The lavish and leveraged life of Aubrey McClendon, Reuters | By John Shiffman, Anna Driver and Brian Grow | June 7, 2012 Excerpt (emphasis added): Among other tasks, the unit's controller once helped … [Read more...]
AMERICA FOR S(h)ALE
The American Natural Gas Alliance (ANGA), an industry backed front-group, entreats the readers with “We need reliable energy to meet our growing needs. We need clean energy to protect our health and the environment. And we need domestic energy to reduce our reliance on foreign oil and bring jobs to our communities.” The ANGA page features a building with the American Flag painted across its side. ANGA’s members include Chesapeake Energy, Devon, Encana, Cabot Oil & Gas, BG Group, BHP … [Read more...]
How Chesapeake Fracks Landowners
One royalty check at a time. Docking royalty checks with post-production costs is the oldest trick in the fracking book. A guy crooked me on some royalty payments, but I sued, called the cops and sent the guy to the state penitentiary - where my cousin, the asst. warden, made sure he was treated real nice. Chessie played the royalty fraud game for billions. Here's the key excerpt from the full report of how Chesapeake bilked thousands of landowners, including the City of Forth Worth, the Bass … [Read more...]
Chesapeake Quits New York !
So much for their Farce Majeure gambit. And Chesapeake's New York Style Shale Game. Chesapeake Energy have acknowledged that they are not going to be able to enforce or perpetuate "farce majeure" extensions of their Boom Time leases in New York state. Because the extensions were unenforceable. Which Joe Heath has been telling people for years. So they are allowing those leases to lapse (which does not remove them from clouding property titles). It also signals their retreat from dry gas … [Read more...]
Chesapeake to Dump Marcellus Acreage
Under the excuse of regaining control of its budget, the cash strapped and beleaguered Chesapeake Energy has indicated it will be marketing acreage in the Marcellus and Utica formations in Pennsylvania and Ohio that it considers less valuable, according to a filing with the U.S. Securities and Exchange Commission. Chesapeake plans to focus on drilling in areas it characterizes as "core," including the Eagle Ford in south Texas. On Thursday, March 28, 2013, Aubrey McClendon bid a teary … [Read more...]
Chesapeake Energy – Behind the Curtain – Part 2
Part 1: Chesapeake Energy – Job not finished until paperwork is done. Part 3: Chesapeake Energy: A Problem like Aubrey Part 4: Chesapeake Energy: It’s Raining Shoes Goodwin said there are limited ways to punish a corporation. "It is not a life. It is not a being. It can't go to jail," - U.S. Attorney Booth Goodwin speaking about West Virginia Mine Settlement, December 6, 2011 “Corporations are people, my friend,” Former Governor Mitt Romney at Iowa State Fair. August … [Read more...]
Aubrey Tossed – Chesapeake Energy in Search of new CEO
There are 3 rules of business: 1. Logic does not apply 2. When the right person gets pissed, something will be done. 3. If you don’t own the company, you’re expendable. Aubrey McClendon forgot rule 3. When Chesapeake Energy went public in 1993, McClendon no longer “owned” the company; he became an employee and served at the pleasure of the Board of Directors and shareholders. At that time, as Chairman of a hand picked board of directors his job as Chairman and CEO was … [Read more...]
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