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.
Apache Corp., the fourth-largest U.S. independent oil and natural gas producer by market value, is weighing a sale of its deep-water assets in the Gulf of Mexico, according to a person familiar with the matter.
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.
Cobalt International Energy Inc., a deep-water oil explorer whose biggest investors include Goldman Sachs Group Inc., climbed to a record after test results at a discovery off the coast of Angola exceeded the company’s expectations.