Low Energy Prices Take Toll on Chesapeake

Date: February 26, 2015

Oil prices continue to sink on the international market.  Natural gas prices, spurred downward by the boom in fracking and production , continue to slug along at very low levels. These almost record level low energy prices are taking their toll on energy companies worldwide.

This week, Chesapeake Oil and Gas announced that profits are down 34%.  The company is really struggling.  Because of the loses, Chesapeake has announced a 60% cutback in natural gas exploration and production.  These cutbacks were not a surprise to industry observers.  Chesapeake has been undergoing corporate leadership changes for the past two years.  Because Chesapeake has sold much of its Marcellus Shale holding the effects on natural gas production will be limited.

Joe Price
Attorney Joe Price is a seasoned Trial Lawyer serving Northeast, Central and Southeast Pennsylvania for the past forty (40) years. He has handled serious personal injury cases in courts throughout the Federal system including New Jersey and New York. Attorney Price is A.V. Rated by Martindale Hubble. He is Board Certified in Civil Practice by the National Board of Trial Advocacy since 1996.