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Stock Market & Financial Investment News

News Breaks
July 1, 2014
07:05 EDTSSE, CHKSeventy Seven Energy completes spin-off from Chesapeake Energy
Seventy Seven Energy (SSE), previously operating as Chesapeake Oilfield Operating, announced the completion of its spin-off from Chesapeake Energy (CHK) into a stand-alone, publicly traded oilfield services business. Following the close of business on June 30, Chesapeake distributed to its shareholders one share of common stock of SSE for every 14 shares of Chesapeake common stock outstanding as of 5:00 pm EDT on June 19, the record date for the distribution. No fractional shares of SSE common stock were issued; however, shareholders entitled to receive a fractional share of SSE common stock in the distribution instead received the cash value of that fractional share. SSE common stock will begin “regular-way” trading under the symbol “SSE” on the New York Stock Exchange on July 1, when markets open. Chesapeake common stock will continue to trade on the NYSE under the ticker symbol “CHK.”
News For SSE;CHK From The Last 14 Days
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April 20, 2015
10:43 EDTCHKStocks with call strike movement; AAL CHK
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April 14, 2015
10:31 EDTCHKAELP says McClendon did not approve Chesapeake settlement
Aubrey McClendon and American Energy Partners, LP responded to the announcement by American Energy – Utica and The Energy & Minerals Group that Chesapeake Energy (CHK) has dismissed AEU and the John Doe Defendants 1-20 from the lawsuit filed by Chesapeake on February 17. The statement read, "AEU apparently chose to settle with Chesapeake before any discovery was taken, evidently for the business purpose of mitigating further damage that Chesapeake's litigation has been having on AEU's business and financing activities. AEU has the right to resolve the case in this fashion, but this resolution should not be mistaken as reflecting an informed view of the merits of Chesapeake's claims or a concession of any liability by any party to Chesapeake. Although Mr. McClendon is a director and the single largest non-institutional shareholder in AEU, he did not approve the settlement and neither he nor AELP were advised of the negotiated terms of this settlement. AELP and Mr. McClendon will continue their efforts to have the dispute arbitrated as required by Mr. McClendon's agreements with Chesapeake. As he will show in the appropriate forum, Mr. McClendon rightfully possesses an extensive array of information about more than 16,000 wells, and the related leasehold acreage and future wells, he jointly owns with Chesapeake, including land, well, title, accounting, geological, engineering, reservoir, operating, marketing, and performance information. Mr. McClendon's well-documented agreements with Chesapeake gave him the right to own and use this information for his own purposes, including sharing it with his employees, contractors, advisors, consultants and affiliated entities."
10:16 EDTCHKAmerican Energy - Utica dismissed from Chesapeake lawsuit
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April 13, 2015
10:00 EDTSSEOn The Fly: Analyst Downgrade Summary
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05:55 EDTSSESeventy Seven Energy downgraded to Hold from Buy at Jefferies
Jefferies downgraded Seventy Seven Energy to Hold with a $5 price target citing the recent rally in shares ahead of the company's Q1 results.

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