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Chesapeake CEO departs after emerging from Chapter 11 Apr 28, 2021 5:31:pm Summary by: Daniel Graeber Posted in: Chesapeake CEO departs after emerging from Chapter 11 US-based energy company Chesapeake said April 27 that CEO Doug Lawler would leave his position, just months after the company emerged from Chapter 11 bankruptcy protection. After nearly a decade in the front office, Lawler will leave effective April 30. The chairman of the company’s board of directors, Mike Wichterich, will serve as interim CEO during the search for Lawler’s replacement. “I firmly believe that the investment thesis supporting Chesapeake is compelling, and my confidence in the renewed strength of the company continues to grow,” Wichterich said. ....
Bonanza Creek Energy, Inc. (NYSE: BCEI) (the Company or Bonanza Creek ) today announced the successful completion of its merger with HighPoint Resources ....
Chesapeake Energy Corporation (NASDAQ: CHK) has announced that it has successfully concluded its restructuring process and emerged from Chapter 11. Chesapeake Energy Corporation (NASDAQ: CHK) has announced that it has successfully concluded its restructuring process and emerged from Chapter 11. The reorganized business, which equitized around $7.8 billion of debt, permanently eliminated over $1 billion in annual cash costs from 2019 levels, has an anticipated cumulative free cash flow of more than $2 billion over the next five years, and is targeting a long-term net debt to EBITDAX ratio of less than one. The company now has a capital reinvestment strategy of 60 to 70 percent of cash flow and a commitment to achieving net-zero greenhouse gas (GHG) direct emissions by 2035. Chesapeake also has new board of directors, which was said to be nominated by long-term value-focused equity holders. The new board includes chairman Michael Wichterich, Timothy S. Duncan, Benj ....
Chesapeake Exits Bankruptcy, Pledges to End Routine Flaring in Completions ‘Immediately’ Oklahoma City-based Chesapeake Energy Corp. on Tuesday put the Chapter 11 process in the rear-view mirror and said it wants to take up the gauntlet to develop its substantial Mother Lode of Lower 48 natural gas. At one time the largest natural gas producer and biggest leaseholder in the onshore, Chesapeake succumbed to bankruptcy last June, and as of Tuesday had erased an estimated $7.8 billion in debt. The restructuring marks a “new day,” CEO Doug Lawler said. “We have fundamentally reset our business, and with an improved capital and cost structure, disciplined approach to capital reinvestment, diverse asset base and talented employees, we are poised to deliver sustainable free cash flow for years to come.” ....
US Chesapeake Exits Bankruptcy Summary by: Joe Murphy US shale producer Chesapeake has exited Chapter 11 bankruptcy, the company said on February 9, announcing that its 2021 activity would focus on world-class natural gas assets. Chesapeake filed for Chapter 11 in June last year, becomin. Posted in: ....