Friday, June 15, 2012

Welcome to the Chesapeake Energy headquarters

The photos below are of the Chesapeake Energy headquarters in Oklahoma City. The blue coloring on the ground is the outdoor track next to the outdoor gym (on the right).

Chesapeake headquarters

The interior of the campus has an artificial creek - and much more.

Also Chesapeake headquarters

Wait, is this the same company that had the CEO co-invest in all the gas wells using massive personal leverage? Or is it the company whose CEO ran a $200mm hedge fund right on this fine corporate campus (and now hired a personal lawyer who is a specialist in securities law)? Or maybe this is the firm that has to renegotiate its gas leases at the time when gas is near the lows and gas drilling faces regulatory pressures.

Looks like it's all of the above. And the firm better hope that yesterday's gas rally continues, because someone has to pay for all the construction at the corporate headquarters -  the campus is just too modest and needs to be spruced up.

Construction at the Chesapeake headquarters

The shareholders are obviously a bit upset about some of this.
AJC: - Chesapeake Energy Corp. shareholders rebuked the company's board by withholding support for two directors up for re-election at Friday's annual meeting. Both directors have tendered their resignation.

Shareholders also withheld their support for Chesapeake's executive compensation plan and peppered CEO Aubrey McClendon with questions about the corporate governance and accountability of the nation's second largest producer of natural gas.
Because unless something gets done, soon the current bond holders will become the new shareholders.
Chillicothe Gazette: - Enron and Chesapeake are alike in three ways: an entrenched and unaccountable management and board, little effective federal or state regulation and a collapsed business model.
Related Posts Plugin for WordPress, Blogger...
Bookmark this post:
Share on StockTwits