Chesapeake Energy Completes Acquisition of Chief, Tug Hill Affiliates
Chesapeake Energy Corp. on March 9 completed its previously announced multibillion-dollar...
Chesapeake Energy Corp. on March 9 completed its previously announced multibillion-dollar acquisition of Chief E&D Holdings, LP, and associated non-operated interests held by affiliates of Tug Hill Inc.
“The Chief transaction deepens our premium inventory, allowing us to allocate additional capital toward our world-class Marcellus Shale position and accelerate returns for our shareholders,” Nick Dell’Osso, Chesapeake’s president and CEO, commented in a company release.
“With the integration of these assets into our existing portfolio,” Dell’Osso continued, “we look forward to generating greater free cash flow, growing our dividend programs, and improving our GHG emissions metrics as we continue to responsibly deliver reliable, affordable, lower-carbon energy in 2022 and beyond.”
MarketWatch: U.S. initial jobless claims edged upward in early March
The numbers: New filings for unemployment benefits rose by 11,000 to 227,000 in early...
The numbers: New filings for unemployment benefits rose by 11,000 to 227,000 in early March, but businesses are trying to avoid layoffs as they confront an extremely tight labor market and try to fill a record number of open positions.
Economists polled by The Wall Street Journal had forecast initial jobless claims to total a seasonally adjusted 216,000 in the seven days ended March 5.
Oil prices plunge from 14-year highs; Exxon, Chevron slip after eight straight gains
Energy stocks (...
Energy stocks (XLE-3.1%) comprise Wednesday's five biggest losers on the S&P 500, as crude futures plunged by the most since November after the United Arab Emirates and Iraq signaled OPEC may have greater willingness to raise production, as well as hopes for a de-escalation of the Russia-Ukraine conflict.
April WTI crude oil(CL1:COM) closed -12.1% to settle at $108.70/bbl, after ending Tuesday at its highest since August 2008, and May Brent crude (CO1:COM)-13.2%to $111.14/bbl, after closing at its best level since July 2008.
At the close:PSX-5.9%, XOM-5.7%, SLB-5.6%, HAL-5.2%, VLO-3.7%.
