Chesapeake's Oily Empire Takes Shape

Back in February, Chesapeake Energy (NYSE: CHK) started shifting its strategy. The natural gas heavyweight would focus more heavily on liquids-rich resources -- plays like the Eagle Ford and Niobrara, which yield high amounts of oil or natural gas liquids. In a move that should surprise absolutely no one, Chesapeake spent around $2.9 billion on land acquisitions in the first half of the year, in an attempt to lock up key leaseholds in emerging "oily" plays. It’s said that to a man with a hammer, everything looks like a nail. Well, CEO Aubrey McClendon started his career as a landman, so what can you expect?... Read more