Chesapeake Energy Company History Timeline

1989
The company was founded in 1989 by Aubrey McClendon and Tom L. Ward with a 50,000 initial investment.
1993
In 1993, the company became a public company via an initial public offering, valuing the company at 25 million.
1997
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.
2006
Ward left the company in 2006 to establish SandRidge Energy.
2008
In 2008, the company announced its discovery of the Haynesville Shale in East Texas and northwestern Louisiana.
2009
In 2009, the company celebrated its 20th anniversary by partnering with Orange County Choppers to create the world's first chopper powered by compressed natural gas.
2012
In June 2012, in response to shareholder concerns about corporate governance issues under McClendon's watch, the company appointed Archie W. Dunham as chairman, while Aubrey McClendon remained CEO. In December 2012, the company sold midstream assets for 2.16 billion.
2013
In May 2013, Robert Douglas Lawler, an executive of Anadarko Petroleum, was named CEO of the company.
In 2013, Chesapeake sold 55,000 net acres in the Northern Eagle Ford Shale and 9,600 net acres in the Haynesville Shale to EXCO for aggregate proceeds of 1 billion.
2014
In 2014, the company also sold additional midstream assets for 520 million.
2015
In September 2015, the company announced layoffs of hundreds of people in Oklahoma City.
2016
McClendon, who built a fortune in shale gas across the country, was killed when his car drove into a bridge.By Clifford KraussMarch 2, 2016.
Indictment of Shale Baron in Rigging of LeasesThe Justice Dept. charged Aubrey McClendon, the ex-C.E.O. of Chesapeake Energy, with conspiring to suppress prices paid for oil and natural gas leases.March 2, 2016.
On March 2, 2016, former CEO and co-founder Aubrey McClendon died in a single-occupant single-vehicle crash when he drove his vehicle straight into a concrete bridge embankment in Oklahoma City.
2017
In 2017, the company sold assets in the Haynesville shale for 465 million.
2018
Valero Energy accounted for 10 of revenue in 2018.
2019
In February 2019, the company acquired Texas oil producer WildHorse Resource Development for 4 billion in cash and stock.
Founded
1989
Company Founded
Headquarters
Oklahoma City, OK
Company Headquarter
Founders
Tom Ward,Aubrey McClendon
Company Founders

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