Share “Ousted CEO McClendon tries to force...”

Ousted CEO McClendon tries to force Chesapeake into new drilling Published: February 25, 2014

Chesapeake Energy Corp. ousted its former chief executive Aubrey McClendon last April after a governance scandal and a liquidity crisis. But the former boss retains financial ties to the second-largest U.S. natural gas company, and he is using them to try to change company plans, Reuters reports.

A firm run by McClendon is attempting to force Chesapeake to drill 12 multi-million dollar wells in Louisiana's Haynesville Shale at a time when Chesapeake is trying to rein in spending and cut debt to focus on other shales, according to a lawyer for Chesapeake.

See this story on