Chesapeake Energy Corp. plans to put 80 new natural gas wells into suspended animation by the end of this year with an eye to turning them on when prices for power-plant and heating fuel rebound from the lowest prices in years.
Chesapeake Is Stockpiling New Gas Wells to Await Higher Prices bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
UNG: Not The Way To Profit From Natural Gas (NYSEARCA:UNG) seekingalpha.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from seekingalpha.com Daily Mail and Mail on Sunday newspapers.
Chesapeake Energy is a stellar turnaround story. Years of mountainous debt pushed the company into bankruptcy in June 2020 (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership). After Chessy exited bankruptcy, the new owners booted CEO Doug Lawler in April of 2021 (see Doug Lawler Out as CEO of Chesapeake Energy). Lawler tried