X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

  • 4 minutes IMPORTANT ARTICLE BY OILPRICE.COM EDITOR - "Naked Short Selling: The Truth Is Much Worse Than You Have Been Told"
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 4 hours Texas forced to have rolling black outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 23 hours Wednesday Nikki Haley reached out to Trump for meeting at Mar-a-lago. Trump said No ! You blew it Nikki . . .
  • 1 day NYT:  The Supreme Court’s order (Re:  Trump’s tax returns) set in motion a series of events that could lead to the startling possibility of a criminal trial of a former U.S. president
  • 6 hours Retired RAF pilot wins legal challenge over a wind farm
  • 8 hours Speaker Pelosi, "Tear Down This Wall"
  • 8 hours Disaster looming in UK offshore wind power
  • 8 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 5 hours Minerals, Mining and Industrial Ecology
  • 7 hours The latest GOP nonsense on Texas shows us the future Republicans want
  • 30 mins U.S. Presidential Elections Status - Electoral Votes
  • 7 hours Chance for (Saudi)Arabian peninsula having giant onshore Gas too?
  • 10 hours Pipeline vs Train vs Ship to Transport Crude Oil.

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

Oilprice - The No. 1 Source for Oil & Energy News