Hidden wine cave, $110 million parking bill: Energy collapse wasn't only thing that sank Chesapeake [CNBC]
Chesapeake Energy Corporation (CHK)
Last chesapeake energy corporation earnings: 2/26 07:00 am
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Source: CNBC
Fracking giant Chesapeake Energy's bankruptcy filing comes following a financial mess at the company that included no budgets, a massive wine collection and a nine-figure bill for parking garages, sources told CNBC's David Faber . CEO Robert D. "Doug" Lawler found in examining the company's books a $110 million bill for two parking garages, Faber reported Monday. That was part of about $30 billion in spending above cash flow that happened from 2010-12, while the late Aubrey McClendon was CEO and prior to Lawler taking over in 2013. Other revelations include a wine collection in a cave hidden behind a broom closet in the Chesapeake office. Extravagances further included a season ticket package to the NBA's Oklahoma City Thunder that was the biggest in the league and a lavish campus that was modeled after Duke University, complete with bee keepers, botox treatments and chaplains for employees. The company announced its bankruptcy filing on Sunday , amid a brutal time for the energy sect
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News
- Chesapeake Energy closes in red after six sessions of gains [Seeking Alpha]Seeking Alpha
- Natural Gas Producers Are Slashing Spending As Prices Stumble [Yahoo! Finance]Yahoo! Finance
- US natgas output down 7% as producers cut back amid price collapse [Yahoo! Finance]Yahoo! Finance
- Chesapeake Energy Co. (NASDAQ: CHK) had its price target lowered by analysts at Mizuho from $104.00 to $100.00. They now have a "buy" rating on the stock.MarketBeat
- Chesapeake Energy: Limited Upside In 2024 [Seeking Alpha]Seeking Alpha
CHK
Earnings
- 2/20/24 - Beat
CHK
Sec Filings
- 3/19/24 - Form 4
- 3/19/24 - Form 4
- 3/19/24 - Form 4
- CHK's page on the SEC website