Chesapeake Energy Corporation's 50 acre campus is seen in Oklahoma City, Oklahoma, April 17, 2012.
CREDIT: REUTERS/STEVE SISNEY
(Reuters) - Chesapeake Energy Corp has received subpoenas from states and the U.S. Department of Justice seeking information on its royalty payment practices to mineral owners, according to a regulatory filing.
Chesapeake, which is also being probed by the DOJ and states over possible antitrust violations related to land purchases, said it is responding to the subpoenas, according to a filing with the U.S. Securities and Exchange Commission.
A spokesman for the Oklahoma City, Oklahoma company declined to comment on Thursday.
Chesapeake faces a slew of lawsuits from landowners and others who allege the company has underpaid royalties for produced and sold natural gas and natural gas liquids through the use of improper deductions or below-market pricing.
Chesapeake said in its quarterly SEC filing on Wednesday that it has resolved a number of those claims and has also prevailed in some lawsuits.
Shares of Chesapeake fell 3.4 percent to $21.98 in midday New York Stock Exchange trading. That compares with a 2 percent decline in the SIG Oil Exploration and Production Index.
Tags:
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
ContinuePosted by Keith Mauck (Site Publisher) on November 20, 2024 at 12:40
150 members
400 members
358 members
166 members
9 members
120 members
97 members
34 members
386 members
27 members
© 2025 Created by Keith Mauck (Site Publisher).
Powered by
h2 | h2 | h2 |
---|---|---|
AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
Links |
Copyright © 2017 GoHaynesvilleShale.com