• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 7 days What fool thought this was a good idea...
  • 10 days They pay YOU to TAKE Natural Gas
  • 10 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 5 days A question...
  • 16 days The United States produced more crude oil than any nation, at any time.
What’s Really Wrong with Thames Water?

What’s Really Wrong with Thames Water?

Following the Thames Water debacle,…

Chesapeake Replace McClendon with Ex-Conoco Chief as Chairman

Aubrey McClendon is the co-founder, chief executive officer, and chairman of Chesapeake Energy Corp., the second largest natural gas producer in the US. However, since Reuters released a report back in April 2012 which revealed that McClendon had taken out more than $1 billion in personal loans, using Chesapeake’s assets as collateral, shareholders have been in revolt, demanding that he step down.

Chesapeake has now removed Aubrey McClendon as chairman of the board and announced Archie Dunham, the former head of Conoco, as their new chairman. This move was made in an attempt to calm their shareholders, although it seems that McClendon will remain as CEO and retain power over the company.

Dunham spent more than three decades at Conoco serving as president and chief executive. During his time as head of oil and gas production in the 1990’s he was credited with revitalising a struggling Conoco by selling $2 billion in assets and refocusing the company on its best-performing fields. He then oversaw the merger that created ConocoPhillips in 2002, and remained chairman of the company until his retirement in 2004.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News