4 Energy Stock Stories Making It Big on Wednesday
Chesapeake Energy Corp. (NYSE:CHK): Closing price $25.99
An energy company now run by the former Chesapeake Energy Corp Chief Executive Aubrey McClendon, said Wednesday that it has come up with $1.7 billion to drill on shale acreage in Ohio’s Utica Shale. Proceeds will at first be used to purchase and drill on some 110,000 acres in the southern portion of the Utica Shale. Drilling operations will commence employing one rig in the fourth quarter, and the firm will increase drilling activity to at least 12 rigs during the next 2 to 3 years.