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Chesapeake Energy considering spinning off oilfield services unit

Chesapeake Energy, the second-largest U.S. natural-gas producer, said Monday it has notified regulators of a plan to spin off its oilfield-services subsidiary. The wholly owned unit of the struggling energy company, Chesapeake Oilfield Operating (COO), would have an initial public offering on the New York Stock Exchange, according to the…

Oil and gas drillers rob elderly of royalties they owe retired landowners

By Abrahm Lustgarten, ProPublica Don Feusner ran dairy cattle on his 370-acre slice of northern Pennsylvania until he could no longer turn a profit by farming. Then, at age 60, he sold all but a few Angus and aimed for a comfortable retirement on money from drilling his land for…

Chesapeake Energy drops legal fight over fracking leases in New York state

NEW YORK (Reuters) – Chesapeake Energy has given up a two-year legal fight to retain thousands of acres of natural gas drilling leases in New York state, landowner and legal sources told Reuters. Landowners in Broome and Tioga counties, who had leased acreage to Chesapeake over the past decade, had…

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