China Petrochemical Corp.’s $1.02 billion deal with Chesapeake Energy Corp. gives the second- largest Chinese energy producer a stake in a shale oilfield for less than one-third of its estimated value.
Mortgage derivatives tied to the biggest U.S. home loans are plummeting in a divergence from the underlying bonds as firms from TCW Group Inc. to Wells Fargo & Co. say the credit-default swaps are sending false signals.
Chesapeake Energy Corp. Chief Executive Officer Aubrey McClendon has been adding oil fields to his personal holdings faster than he can find cash to drill them. He’s steering the company down the same road.
Chesapeake Energy Corp. will name an independent chairman to replace Aubrey McClendon and halt an incentive program that allowed the chief executive officer to amass personal stakes in thousands of company-operated wells.
Slumping oil and natural-gas prices threaten to exacerbate a cash crunch at Chesapeake Energy Corp., adding to pressure on Chief Executive Officer Aubrey McClendon to sell oilfields from Texas to Ohio.