Chesapeake Energy adopts poison pill to block a takeover

Chesapeake Energy has adopted a poison pill shareholder rights plan to protect the company from any takeover attempts due to its low stock prices, Kallanish Energy reports. Last Thursday, the Oklahoma-based O&G company adopted what is called a purchasing dividend for shareholders or a shareholder rights plan. The shareholder rights can be exercised if a … Read more

Texas, Oklahoma mulling state cuts to oil, gas production

      Texas and Oklahoma are both looking at cutting production of crude oil and natural gas because of low prices tied to the coronavirus pandemic and the oil price rout. On Tuesday, the Texas Railroad Commission held a 10-hour video hearing with 55 witnesses including energy companies and trade groups on a possible … Read more

BP to delay Greater Tortue Ahmeyin LNG project by one year

British oil major BP seeks to delay first gas on its operated Greater Tortue Ahmeyin project by one year due to the coronavirus pandemic, Kallanish Energy reports. Liquefied natural gas shipping company Golar LNG said earlier this week it received a force majeure notice from BP under its 20-year lease and operate agreement for the … Read more

Federal biological review delayed for MVP

A federal review of the under-construction Mountain Valley Pipeline (MVP) and its impacts on endangered or threatened wildlife has been delayed again, Kallanish Energy reports. The Federal Energy Regulatory Commission, the U.S. Fish & Wildlife Service and Mountain Valley Pipeline last week agreed to take another 32 days to April 27 to complete the biological … Read more

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