Chesapeake

One day after a federal bankruptcy court judge ruled that Sabine Oil and Gas Corp. could terminate some of its gathering contracts as part of its recovery in Chapter 11, industry experts said they don’t believe the ruling sets a precedent in the midstream sector, but are advising midstream companies to fortify their contracts with producers.

Aubrey McClendon, who died suddenly on Wednesday, was considered an ambitious risk-taker, a dreamer, at times reckless and shrewd, but there is no denying that for a time, as the chief architect of Chesapeake Energy Corp., he was the King of Shale, overseeing the largest store of natural gas leaseholds in the country.

Prosecutors in Oklahoma have moved to drop charges against Aubrey McClendon for his alleged role in a rig bidding conspiracy, following his untimely death Wednesday. However, an ongoing federal investigation continues into price fixing, bid rigging and other anticompetitive conduct in the oil and natural gas industry, officials said.

Aubrey McClendon, who died suddenly on Wednesday, was considered an ambitious risk-taker, a dreamer, at times reckless and shrewd, but there is no denying that for a time, as the chief architect of Chesapeake Energy Corp., he was the King of Shale, overseeing the largest store of natural gas leaseholds in the country.

Aubrey McClendon, 56, the former chief and co-founder of Chesapeake Energy Corp., was killed Wednesday in a single-car crash, authorities said.

Aubrey McClendon, 56, the former chief and co-founder of Chesapeake Energy Corp., and an early leader of the shale revolution that transformed the energy industry, was killed instantly Wednesday in a single-car crash in Oklahoma City.

Aubrey McClendon, 56, the former chief and co-founder of Chesapeake Energy Corp., and an early leader of the shale revolution that transformed the energy industry, was killed instantly Wednesday in a single-car crash in Oklahoma City.

Fearing that the downturn in oil and natural gas prices has battered the finances of Chesapeake Energy Corp. and could eventually threaten an $18 million settlement with thousands of Pennsylvania landowners, two plaintiffs have filed a motion for court ordered mediation to approve the settlement swiftly.

Chesapeake Energy Corp., once the most active producer in the U.S. onshore, has reduced its rig count to less than 10 and cut capital spending by more than half as it shores up its balance sheet for the long haul. With a fourth quarter loss of more than $2.2 billion, the No. 2 U.S. natural gas producer also is continuing to negotiate with midstream partners to revise contracts that better fit its downgraded development plans.