Chesapeake Energy doing damage control following reports of CEO' - WFMJ.com News weather sports for Youngstown-Warren Ohio

Chesapeake Energy doing damage control following reports of CEO's activities

Updated:

OKLAHOMA CITY, Oklahoma - One of the biggest stakeholders in the local shale boom is doing damage control.

Shares of Chesapeake Energy dropped 15 percent because of disappointing earnings and a new report of potential conflicts of interest involving its CEO.

Reuters says Aubrey McClendon ran a private hedge fund for at least four years that traded in contracts for oil and natural gas commodities that Chesapeake produces.

The report suggests the hedge fund could have influenced McClendon's running of Chesapeake.

"Your mother told you not to believe everything you read or hear for good reason, and that certainly has been the case for the past two weeks. I am deeply sorry for all the distractions of the past two weeks," McClendon said.

McClendon was stripped of his chairmanship after disclosures that he had taken out personal loans to cover his investments in the company's wells.

  • More NewsMore>>

  • Suspect could be armed and dangerous

    Police: Potentially dangerous man on foot near West Middlesex, Hubbard

    Police: Potentially dangerous man on foot near West Middlesex, Hubbard

    Monday, December 18 2017 12:59 AM EST2017-12-18 05:59:22 GMT

    Several police units are searching for a man belived to be involved in a car chase that started out in Hermitage.  The chase began in Hermitage and stopped near State Line Road in Hubbard.  There, the car crashed and was abandoned. The driver took off on foot. Mercer County Dispatch said the man may still be in Ohio, most likely near Interstate 80.  This is a developing story. Stay with 21 News on air and online for the latest updates. 

    More >>

    Several police units are searching for a man belived to be involved in a car chase that started out in Hermitage.  The chase began in Hermitage and stopped near State Line Road in Hubbard.  There, the car crashed and was abandoned. The driver took off on foot. Mercer County Dispatch said the man may still be in Ohio, most likely near Interstate 80.  This is a developing story. Stay with 21 News on air and online for the latest updates. 

    More >>
  • 2 stolen puppies return to Youngstown home

    2 stolen puppies return to Youngstown home

    Sunday, December 17 2017 6:48 PM EST2017-12-17 23:48:20 GMT

    Two stolen pit bull puppies are back at home after being reported missing on Friday.  

    More >>

    Two stolen pit bull puppies are back at home after being reported missing on Friday.  

    More >>
  • Liverpool Twp Police: Routine traffic stop leads to drugs and cash

    Liverpool Twp Police: Routine traffic stop leads to drugs and cash

    Sunday, December 17 2017 3:29 PM EST2017-12-17 20:29:21 GMT

    Liverpool Township Police conducted a routine traffic stop that lead officers to drugs and over $2,000 in cash Saturday evening. 

    More >>

    Liverpool Township Police conducted a routine traffic stop that lead officers to drugs and over $2,000 in cash Saturday evening. 

    More >>
Powered by Frankly
All content © Copyright 2000 - 2017 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms