KLR Group Reiterates Buy on Chesapeake Energy (CHK) - PT to $9

Williams Partners Announces New Commitments Related to Barnett Shale and Mid-Continent Region

August 10, 2016 5:19 PM EDT

Williams Partners conditionally agrees to execute a new Barnett gathering contract with a private company and to terminate Barnett contract with Chesapeake Williams Partners agrees to revised Mid-Continent Region contract with Chesapeake These Conditional Agreements Would Diversify Williams Partners Customer Base, Reduce Expected Revenues from Chesapeake to ~15% of Total Revenues, Reducing Customer Concentration Risk and Supporting Additional Drilling and Volumes in the Basins Williams Partners Expects to Receive $820 Million in Upfront Cash Payments, Monetizing Contractual MVC Commitments with Chesapeake; Establishing New Lower... More

Chesapeake Energy Corporation Agrees To Exit Barnett Shale, Asset To Be Acquired And Operated By First Reserve, Announces Renegotiation Of Mid-Continent Gas Gathering Agreement And Provides Preliminar

August 10, 2016 4:35 PM EDT

OKLAHOMA CITY, Aug. 10, 2016 /PRNewswire/ -- Chesapeake Energy Corporation (NYSE: CHK) today announced that it has entered into an agreement to convey its interests in the Barnett Shale operating area located in North Texas to Saddle Barnett Resources, LLC ("Saddle Resources"), a company backed by First Reserve, a leading global private equity and infrastructure investment firm exclusively focused on energy, and simultaneously terminate future commitments associated with this asset.

The impacts to Chesapeake upon completion of these actions will be as follows:

Increases Chesapeake's operating income, before charges... More

Seventy Seven Energy Inc. Announces Second Quarter 2016 Operational and Financial Results

August 9, 2016 9:04 AM EDT

OKLAHOMA CITY--(BUSINESS WIRE)-- Seventy Seven Energy Inc. (SSE) today reported financial and operational results for the second quarter of 2016. Key information related to SSE for the second quarter is as follows:

Emerged from bankruptcy on August 1, 2016, which reduced debt by $1.115 billion Net Loss of $84.5 million Consolidated Adjusted EBITDA of $31.5 million 8 rigs currently operating in the Permian; over 30 new customers in the first half of the year

SSE reported total revenues of $138.1 million for the second quarter... More