Share “Unfinished business: Analyst predicts four...”

Unfinished business: Analyst predicts four scenarios for Chesapeake Energy after Aubrey McClendon leaves

Julie Anewalt, a research analyst with Grubb & Ellis/Levy Beffort, looked at four possible scenarios facing Chesapeake Energy after the departure of founder and Chief Executive Officer Aubrey McClendon on April 1.

BY STEVE LACKMEYER AND BRIANNA BAILEY Published: March 10, 2013
Advertisement

The report predicts higher unemployment and reduced wages would be felt by the entire retail market under this scenario, with the brunt of the retraction likely to be suffered by merchants in Nichols Hills and near the corporate campus. High-end stores across the city also would see reduced sales.

•Scenario: Aubrey McClendon creates a new oil and gas company and Chesapeake Energy remains based in Oklahoma City.

“Industry analysts believe it is unlikely that McClendon will leave the energy sector,” Anewalt wrote.

The Oklahoman reported that Aubrey McClendon is unable to enter the energy industry until June 2017, after all of Chesapeake’s severance payments have been made and the six-month noncompete period has been fulfilled. However, we anticipate this timetable to be pushed sooner.”

Under this scenario, the report suggests the city could end up with five large energy companies: Devon, Chesapeake, Continental Resources, SandRidge and McClendon’s new company. The impact on retail and commercial development with a new McClendon company and Chesapeake surviving is “unknown.”

CONTRIBUTING: Richard Mize, Real Estate Editor


Read the rest of the story on Oklahoman.com
NewsOK.com has disabled the comments for this article.

AROUND THE WEB

  1. 1
    Oklahoma City police: Two arrested after woman sexually assaulted in work freezer
  2. 2
    OU football fans among Top 10 ... in grammar
  3. 3
    Wrestling legend Jimmy 'Superfly' Snuka charged in girlfriend's 1983 death
  4. 4
    Pop culture: Mike Tyson added to Wizard World Tulsa guest list
  5. 5
    Critical figure in leaked Robert Bates probe from 2009 appears before grand jury
+ show more

FEATURED JOBS



× Trending news Article