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Top U.S. natural gas producer Chesapeake Energy cuts jobs

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Top U.S. natural gas producer Chesapeake Energy cuts jobs

producer, began laying off employees this week after completing the divestiture of its oil assets last year, the company said on Monday.Chesapeake in 2022 said it would exit the Eagle Ford shale field in south Texas, making it a pure-play natural gas producer.

The Oklahoma City, Oklahoma-based company is in the process of completing a $7.4 billion merger with Southwestern Energy. That deal is set to close in the second half of this year, later than originally anticipated after U.S. Federal Trade Commission sought additional information. As part of that deal, the company will replace current General Counsel Benjamin Russ with Southwestern General Counsel Chris Lacy, according to a regulatory filing on May 7.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

 

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