Chesapeake Energy Corp. exonerated co-founder and outgoing Chief Executive Officer Aubrey McClendon for privately borrowing hundreds of millions of dollars from some of the company’s biggest financiers.
Chesapeake Energy Corp., the second- biggest natural-gas producer in the U.S., accelerated an industry effort to cut back drilling to try to stop a price decline that saw gas slide to a 10-year low last week.
Anadarko Petroleum Corp., the second-largest U.S. independent oil and natural gas producer by market value, rose after announcing an agreement to sell part of its stake in a Mozambique project for $2.64 billion.
SandRidge Energy Inc. Chairman and Chief Executive Officer Tom Ward was fired from the energy producer he founded and replaced by Chief Financial Officer James Bennett, days before an activist shareholder was poised to gain control of the board.
China Petrochemical Corp., the second-largest Chinese oil company, agreed to buy a one-third stake in five Devon Energy Corp. exploratory oil projects in the U.S. for $900 million to expand holdings of reserves trapped in shale.