Energy Industry News

Natural Gas Giant Chesapeake Begins Layoffs

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 19 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 68%

Chesapeake News

Layoffs,Jobs,Eagle Ford

Chesapeake Energy started laying off employees this week following the divestment of its assets in the Eagle Ford basin.

Chesapeake Energy this week started laying off employees following the divestment of its assets in the Eagle Ford play, Reuters reported, citing the company. Also according to the company, the layoffs had nothing to do with its $7.4-billion merger with Southwestern Energy.

4 billion worth of Eagle Ford assets to Ineos Energy and another $700 million worth of assets in the shale play to SilverBow Resources. Chesapeake reported robust financial figures for 2023, with the net result at a respectable $2.4 billion, down from $3.5 billion in 2022. This year, however, has been weaker because of the slump in U.S. natural gas prices.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Why Germany is Choosing Natural Gas Over Nuclear PowerGermany's anti-nuclear stance, rooted in historical factors, has led to energy security concerns and public regret, while the world embraces a nuclear renaissance.
Source: OilandEnergy - 🏆 34. / 68 Read more »