Ahead of the annual shareholder meeting on Friday, Chesapeake Energy Corp. acquiesced to demands of major shareholder groups and Carl Icahn, who now holds 7.8% of the stock, and said four existing independent directors would resign from the board. The company also has put up for sale 337,481 net acres in its prized Utica/Point Pleasant Shale, which would give it less than one million acres in the play.
Articles from Acquiesced
Putting an end to several years of squabbling, Kansas PipelineCo. has acquiesced to FERC jurisdiction but only on the conditionthat the Commission grandfather the existing, state-approved ratesin its contracts until it is ordered to file a Section 4 rate case.