Chesapeake Energy’s Chief Seeks to Win Over Skeptics

Chesapeake Energy Corp.’s board withheld Chief Executive Officer Aubrey McClendon’s annual bonus after investors criticized the performance and management of the second-biggest U.S. natural gas producer.

By Devon Shire: Back in the summer of 2010 I listened to a Chesapeake Energy (CHK) conference call where then CEO Aubrey McClendon laid out what he thought Chesapeake's various properties were worth.

Chesapeake Energy CEO Aubrey McClendon will retire effective April 1, according to a company release. Shares of CHK are surging in after-hours trading An internal review found McClendon did not engage in any improper conduct.

By Cris Frangold: One month into the third quarter, Chesapeake Energy Corporation (CHK) is hoping to close on some of its previously announced asset sales in order to raise much needed cash.

Who would have thought? Aubrey McClendon, Chesapeake Energy’s (CHK) founder and only CEO ever, who ran the company like a personal piggy bank despite owning just over 1/4 of 1% of shares outstanding, is finally gone. Ostensibly, Aubrey and the board suffered pangs of “philosophical” differences.  Aubrey has for all these many years been chief of the tribe, so taking directions from the board and Carl Icahn probably doesn’t peacefully coexist with his habit of giving orders. It’s tough to be an Indian when you have been the big chief for so long…..More on philosophy in a moment.

Back in May 2012, when Reuters' all out aggressive campaign against Chesapeake Energy was in full swing and the stock was trading around $14 per share, we predicted that contrary to the endless balance sheet bashing there was, in fact, much upside to CHK.

Aubrey McClendon will no longer be running Chesapeake Energy Corpcome April 1. But he is likely to remain deeply entangled with the company he founded 24 years ago.

By Devon Shire: I've been following the saga of Chesapeake Energy (CHK) since 2005 when I first became fascinated with the huge unconventional land position the company had amassed. Way back then Chesapeake's share price was roughly $17 per share. Since then the following things have happened to Chesapeake:- The company expanded its resource play inventory to include liquids and oil plays