Chesapeake Struggling?

[Conan71]

OKLAHOMA CITY - Chesapeake Energy Corp. spent more than $170 million buying up office properties outside of its core campus over the past several years, but its spending spree appears to have run out of gas after company founder and CEO Aubrey McClendon announced his impending departure earlier this year.

Local real estate market observers are keeping a watchful eye on the natural gas company to see what it will do with the vast amount of office space it holds.

A recent report released by the real estate firm Grubb & Ellis/Levy Beffort, estimates Chesapeake controls about 7 percent of the city's office market.

Although Chesapeake's appetite for office space has been insatiable in recent years, the company has slowed the pace of its acquisitions and has even begun to unload some of its real estate assets at a loss.


Read more from this Tulsa World article at http://www.tulsaworld.com/business/article.aspx?subjectid=49&articleid=20130318_49_0_OKLAHO332601

[Townsend]

http://www.thelostogle.com/2013/09/17/according-to-this-leaked-email-big-layoffs-may-be-coming-to-chesapeake/

Leaked email warns of big layoffs at Chesapeake Energy

If you work for Chesapeake Energy, it may be time to polish up your LinkedIn profile. We have obtained through the Ogle Mole Network a Chesapeake email that suggests the company could layoff 500 employees or more from its OKC campus within the next 90 days. The email was sent to the personal email accounts of several laid off employees in order to comply with the federal Worker Adjustment and Retraining Notification Act ("WARN"). According to the Department of Labor, WARN "protects employees, their families, and communities by requiring most employers with 100 or more employees to provide 60-day advance notification of plant closings and mass layoffs of employees."

[Townsend]

Chesapeake Energy Corp. lays off 800 company-wide, 640 in Oklahoma City

http://www.kjrh.com/dpp/money/business_news/chesapeake-energy-corp-lays-off-800-company-wide-640-in-oklahoma-city#ixzz2hANFmeSY

OKLAHOMA CITY (AP) -- Chesapeake Energy Corp. is laying off 800 workers across the company, including 640 at its home base of Oklahoma City.
The company says the Tuesday layoff announcement is necessary to keep the oil and natural gas specialist competitive.
Chesapeake CEO Doug Lawler told The Oklahoman (http://is.gd/h6HZS9 ) that he's working to keep the company vibrant for "decades to come"
About 1,200 people have left jobs with Chesapeake since the start of 2013.
Lawler says Chesapeake has spent the last several months examining all aspects of its business. He says that process is now over and the company will continue with exploration and production.

[Gaspar]

Chesapeake Energy Corp. lays off 800 company-wide, 640 in Oklahoma City

http://www.kjrh.com/dpp/money/business_news/chesapeake-energy-corp-lays-off-800-company-wide-640-in-oklahoma-city#ixzz2hANFmeSY

Yeah, they have a developer I want.  Fortunately for him and unfortunately for us, they are keeping him. . .at least for the time being.

[heironymouspasparagus]

Yeah, they have a developer I want.  Fortunately for him and unfortunately for us, they are keeping him. . .at least for the time being.

If you want him, go after him.  He is really puckered up right now, worrying about the next round.  Perfect opportunity for some cherry picking!!  Unless of course, you also do business with Chesapeake....then not so much.