BFC, CHK and TMST have been added to the Zacks Rank #5 (Strong Sell) List on January 23, 2023.
Chesapeake Energy (CHK) closed the most recent trading day at $90.88, moving -0.03% from the previous trading session.
U.S. oil and gas exploration and production company Chesapeake Energy Corp said on Wednesday it had agreed to sell part of its operations in south Texas to private equity-owned WildFire Energy for $1.43 billion in cash. Chesapeake has been trying to heed calls by activist investor Kimmeridge Energy Management, which has pushed the Oklahoma City-based company to move away from oil drilling in favor of low-cost natural gas production. "Today marks an important step on our path to exiting the Eagle Ford as we focus our capital on the premium, rock, returns and runway of our Marcellus and Haynesville positions," Nick Dell'Osso, Chesapeake chief executive, said in a statement.