![]() ![]() In June 2012, in response to shareholder concerns about corporate governance issues under McClendon's watch, the company appointed Archie W. On April 20, 2021, the agreement was terminated. In 2011, Chesapeake Energy agreed to a 12-year naming rights partnership with the Oklahoma City Thunder for naming and branding rights of the Paycom Center at a cost of $3 million per year, with annual increases of 3%. In 2009, the company partnered with Orange County Choppers to create the first chopper powered by compressed natural gas. In 2008, the company announced its discovery of the Haynesville Shale in East Texas and northwestern Louisiana. In 2006, the company was added to the S&P 500. In the early 2000s, after a rise in natural gas prices made it economically feasible, the company focused on unconventional drilling in carbonates, tight sandstone, and shale particularly in the Barnett Shale, Fayetteville Shale, and the Marcellus Formation. In 1997, the company wrote down the value of its assets by over $200 million, approximately equal to shareholder's equity at the time, due to low commodity prices and implemented a turnaround plan. In the mid-1990s, the company attempted to extend the Austin Chalk play into western and central Louisiana but struggled to do so. įocusing on a strategy of drilling horizontal natural gas wells in unconventional reservoirs, the company built a sizable position in the Golden Trend and Sholem Alechem fields of South-central Oklahoma and in the Giddings field of Southeast Texas. In 1993, the company became a public company via an initial public offering, valuing the company at $25 million. Ward left the company in 2006 to establish SandRidge Energy. McClendon named the company due to his love of the Chesapeake Bay region. ![]() The company was founded in 1989 by Aubrey McClendon and Tom L. 2.4.4 Earthquakes Oklahoma and Kansas correlated with hydraulic fracturing.2.2 Possible conflicts of interest by Ex-CEO Aubrey McClendon.2.1.3 Underpayment of royalties to landowners. ![]()
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